Greystone, a leading national commercial real estate finance company, has provided a total of $47 million in HUD-insured loans for five skilled nursing facilities located in California, Connecticut, North Carolina, and Ohio. The separate financings, provided to five different borrowers, was originated by Fred Levine, Managing Director at Greystone.
Greystone provided an $8,264,000 loan for a 35-bed facility in San Diego, California; a $10,584,000 loan for a 103-bed facility in Dayville, Connecticut; an $8,144,000 loan for a 100-bed facility in Norwalk, Ohio; a $5.75 million loan for a 64-bed facility in Fremont, Ohio; and a $15,120,000 loan for a 111-bed facility in Durham, North Carolina. The properties will all benefit from a long non-recourse loan term of either 30 or 35 year and a low rate.
“Today’s rising interest rate environment reinforces the extraordinary value associated with HUD’s fixed-rate, long-term financing programs,” said Mr. Levine. “We are driven to do our share in helping nursing care providers with permanent financing that frees them to focus on the spectacular care they provide to seniors across the country.”