Greystone provided a $64.96 million bridge loan for a senior care portfolio in Pennsylvania comprising three assets with 506 beds. The financing was originated by Christopher Clare, David Young, Ryan Harkins, Ben Rubin, Parker Nielsen and Liam Gallagher.
The non-recourse interest-only bridge loan carries a 24-month term, two six-month extension options and a floating rate. It allows the borrower to improve operations while working with Greystone to secure HUD-insured permanent financing. The portfolio includes a combined total of 408 skilled nursing, 76 assisted living, 12 memory care and 10 independent living beds.
