Greystone provided two financings for the acquisition of a skilled nursing facility and a skilled nursing portfolio. First, the firm provided a $33.9 million bridge-to-HUD financing for the acquisition of a skilled nursing facility in Virginia with 210 units. The interest-only bridge financing carries a 24-month term, with two six-month extension options, and features a floating rate. The borrower also secured an interest rate cap to mitigate future rate volatility. The financing was originated by Christopher Clare, David Young, Ryan Harkins, Ben Rubin, Parker Nielsen and Liam Gallagher.
Next, Greystone provided a $45.4 million bridge-to-HUD loan for the acquisition of four skilled nursing facilities totaling 489 beds throughout Michigan. This financing was also originated by the same Greystone team. The interest-only bridge financing carries a 24-month term with two six-month extension options and features a floating interest rate. The borrower also secured an interest rate cap.
