Greystone Centers In On Brooklyn
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 2011. The company has so far invested over $20 million in renovating the facility, which now maintains a five-star rating from CMS. Built in 1973, it is 97% occupied with a 49% Medicaid, 25% Medicare and 26% private pay census. Its services are comprehensive as well, including amputee recovery and training, cardiac care, palliative care, dental... Read More »Walker & Dunlop Obtains HUD Financing For Senior Living Project
A group of local owners in Colorado went to HUD to receive construction financing for their 137-unit senior living development in Monument, Colorado (between Denver and Colorado Springs). Having just broken ground last month, the community will feature 80 assisted living, 30 memory care (in two separate 15-unit neighborhoods) and 27 independent living units on a scenic 6.4-acre property. It is scheduled to open in late-2018, with a host of amenities, including several dining areas, guest apartments, a barber and beauty salon, community store and concierge services. Lakewood, Colorado-based WellAge Senior Living will manage the community. Ralph Lowen of Walker & Dunlop structured a... Read More »
Two Years After Acquisition, Queens SNF Refinances with Greystone
Greystone just couldn’t get out of Queens this summer (must have hit the Van Wyck). After providing nearly $60 million in HUD financing for a 302-bed skilled nursing facility in the borough last month, Fred Levine of Greystone’s Monsey, New York office closed yet another transaction for a Queens SNF. Located in Flushing, the facility features 227 beds and was recently renovated to include a brand-new rehab room and therapy offerings. It was acquired in 2015 by Sapphire Care Group, with the help of a highly-leveraged bridge-to-HUD loan arranged by Greystone too. With the renovation completed and operations improved, the owner sought to refinance with a $29 million HUD loan, originated by... Read More »
All Business For Berkadia
The closings keep on coming from Berkadia, which recently facilitated two Freddie Mac financings and a bridge-to-HUD loan for several clients. Heidi Brunet and Chris Honn teamed up to arrange a 10-year, $30 million Freddie Mac loan to refinance a 120-unit independent living community in the Columbus, Ohio area. Recently built in 2015, the community was nearly stabilized, prompting the new client to pay off its existing construction debt with this transaction. Ms. Brunet also assisted an older senior living community to refinance with a 10-year, $44 million Freddie Mac loan. Located in South Florida, the property consists of four buildings with 268 independent living and 55 assisted living... Read More »Schedule a demo
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