HCP, Inc. caused a stir this month with a couple of large acquisitions totaling $558 million. The industry hasn’t seen that kind of large-scale activity in some time, as many of the REITs seemed to be biding their time, at least for big acquisitions. Occupancy woes, overdevelopment and higher labor costs seemed to be some […]
In a first for the seniors housing industry, Greystone closed Freddie Mac’s first-ever lease-up loan for a client in Northern California. More common in the multifamily market, the lease-up program is for experienced clients to lock-in low interest rates earlier in the process for refinancing newly-built properties. Now, for a just-built 66-unit assisted living/memory care […]
Greystone provided more than $49.4 million in Freddie Mac loans to refinance two assisted living/memory care communities in Carmichael, California and Denver, Colorado. First, Oakmont Senior Living received a $25.15 million loan, with a 10-year fixed rate and 30-year amortization, for its newly constructed 71-unit AL/MC community in Carmichael. Then, Spectrum Retirement Communities obtained a […]
Greystone expanded its relationship yet again with Oakmont Senior Living. Having previously provided a $150 million Freddie Mac credit revolver (including an additional $23.5 million tranche provided last month) and an $18.8 million Freddie Mac loan for Oakmont’s Fresno, California property, Greystone continued its work by closing a $58.34 million Freddie Mac refinance for Oakmont’s […]
Already with a $150 million Freddie Mac Revolving Credit Facility provided to them in December 2013 to support their robust development pipeline, Oakmont Senior Living obtained an additional $23.5 million tranche with the help of Greystone. The financing enabled Oakmont to take out its construction loan on its newly constructed 71-unit assisted living/memory care community […]