Following up on a bridge loan it closed a couple of years ago, Greystone successfully refinanced a 238-bed skilled nursing facility in Staten Island, New York. Owned by SentosaCare, the facility has a five-star rating from CMS and offers services that include long-term care, physical therapy, occupational and speech therapy, and neuro and orthopedic rehabilitation. […]
Fred Levine of Greystone closed three HUD financings on the same day for an acquisition of three New York skilled nursing facilities. The $75 million loan, which comes to $133,690 per bed, financed three nursing facilities with 561 beds. They included Brookside Multicare in Smithtown (353 beds), White Plains Center for Nursing and Rehab in […]
On January 18, 2018, we hosted a webinar titled “Seniors Housing Construction and Take-Out Financing: Slowing Down or Just Getting Started?” Our editor, Steve Monroe, moderated a 90-minute discussion among panelists Chris Fenton of Berkadia, Rich Malloy of BBVA Compass and Cary Tremper of Greystone, covering a range of topics from the current pace of […]
A 112-bed skilled nursing facility in Niskayuna, New York (near Schenectady) will have the funds to upgrade its services and amenities thanks to a $27.05 million HUD refinance arranged by Fred Levine of Greystone. Current amenities already include an on-site salon, private dining space and a newly renovated dining area, and the facility provides sub-acute […]
After working to close a $16.5 million HUD refinance for a 216-bed skilled nursing facility in Dunkirk, New York (Buffalo MSA) last month, Greystone’s Fred Levine closed another HUD loan for another large New York SNF. Located in Suffern, on the border with New Jersey, the facility consists of 203 beds and is the largest […]
Aspens Senior Living partnered with Greystone to obtain construction financing for two of its latest seniors housing projects located in North Carolina and Arizona. First, to the Tar Heel state, where Aspens and joint venture partner Pennybacker Capital are currently building a 182-unit independent living community in Raleigh. A regional bank provided a $24.2 million […]
A month ago, we learned of a couple of large divestments by New Senior Investment Group, in a move to bring its share price up to where management believes it should be, by increasing the share of its independent living portfolio, decreasing its Holiday Retirement exposure, and reducing its concentration in the three states of […]
Total HUD LEAN loan volume hasn’t yet reached the heights of its FY2014, when the program closed over $4.2 billion in loans in 484 transactions, but it is getting there. In its FY2017, lenders closed just over $3.4 billion in 310 deals, up 20% from FY2016’s $2.84 billion volume (in 287 deals) and up 26% […]
Greystone seems to have specialized in Queens financings, as the firm went back to the New York borough to close two more HUD loans for a couple of large skilled nursing facilities. This summer, Fred Levine, working out of the firm’s Monsey, New York office, arranged a $60 million HUD refinance for a 302-bed SNF […]
Six years since being acquired by Centers Health Care (then Centers for Specialty Care), a 510-bed skilled nursing facility in Brooklyn, New York is refinancing through HUD with the help of Greystone’s Fred Levine. The transaction comes at a good time for the facility, which has significantly improved its operations since Centers took over in […]