Greystone, a leading national commercial real estate finance company, has provided $36,464,000 million in HUD-insured financing for three skilled nursing facilities in North Carolina. The financing was originated by Fred Levine, Managing Director at Greystone.

Located in Durham, North Carolina, the Carver Living Center is a 232-bed skilled nursing facility that includes 48 private rooms and 92 semiprivate rooms. The facility offers long-term care, short-term rehabilitation, and a secured memory care unit. This facility received $17.16 million in HUD-insured financing that carries a 30-year term with a fixed, low interest rate.

Willow Ridge Rehabilitation and Living Center received $11.4 million in HUD-insured financing which carries a 30-year term with low interest rates. Located in Rutherfordton, North Carolina, the facility features 136 skilled nursing beds with 20 private rooms and 58 semiprivate rooms. The facility offers long-term care, short-term rehabilitation, and a secured memory care unit.

The Greens at Pinehurst Rehabilitation & Living Center was refinanced with $7,896,000 in HUD-insured financing with a 30-year term. The skilled nursing facility is licensed for 120 beds in 68 units and is located in Pinehurst, NC.

“We bridged the acquisition of these facilities with our non-recourse bridge-to-HUD program,” said Mr. Levine. “These facilities join a long list of successful HUD financings executed by our team at Greystone over the past 20 years. Securing permanent financing with an FHA loan enables an owner to ensure long-term, low-rate financing for decades.”

Greystone, a leading national commercial real estate finance company, has provided $18,320,000 in HUD 223(f) financing to refinance a 150-unit multifamily property in Grand Forks, North Dakota. The transaction was originated by Adam Yitzhaky and Ilan Bassali of Greystone on behalf of the Northridge Group.

The $18.3 million HUD-insured loan carries a 35-year term and amortization, along with a low, fixed rate. In addition to refinancing, loan proceeds also enable the borrower to continue with ongoing site maintenance and monetize a portion of their equity.

Built in 2016, Aspen Lofts Apartments consists of two, detached mid-rise elevator buildings offering studio, one-, two- and three-bedroom apartments that feature modern appliances and finishes, in-unit washer/dryers and private outdoor living spaces. Residents of the pet-friendly community have access to a clubhouse, fitness center, game and media room, barbeque and picnic areas, dog park and onsite parking. Located close to the area’s major employers, shopping, dining and educational centers, including the University of North Dakota, the property is near Interstate 29 and U.S. Highway 2, which provide convenient access to the Canadian border, Fargo and Grand Forks Air Force Base.

“We like to get hands-on and go into the details when it comes to finding the right solutions for our clients’ properties,” said Mr. Yitzhaky. “Greystone’s tenure in the multifamily space and our deep HUD lending experience mean we bring a unique level of insight and resources to each transaction, resulting in unparalleled service and execution for every deal.”

“Greystone’s mastery of the multifamily space and its extensive lending capabilities meant that we secured the financing we needed in record time,” said Ryan Carlson, co-founder and principal of the Northridge Group. “Our Greystone team made sure we were well-cared through every step of the transaction - we consider them to be a trusted partner who helps us do better business.”

Greystone, a leading national commercial real estate finance company, announced that Karen Ford has joined as a Vice President on the FHA lending team. Based in Mississippi, Ms. Ford will serve with Lisa Anderson, Managing Director for FHA lending, in a leadership role on the FHA platform. Ms. Ford will report to Field Springer, Head of Operations, FHA Multifamily Lending at Greystone. Greystone currently ranks as the #1 HUD lender for multifamily and healthcare loans*.

Ms. Ford has worked in the FHA Multifamily and Healthcare loan industry for over 30 years. Prior to joining Greystone, Ms. Ford served as Executive Vice President and Chief Operating Officer at Love Funding, a consistently top-ranked FHA lender that was acquired in August 2020 and where she worked for more than 25 years. She also previously served as Chief Operating Officer of SVN, Southgate Realty LLC.

“Karen is an icon in the FHA commercial lending industry, and we are thrilled to add her to our already best-in-class FHA platform,” said Mr. Springer. “I am confident that Karen’s expertise will be an asset to our growing team.”

Ms. Ford added: “After a couple of years away, I can’t think of a better way to rejoin the FHA lending industry than to join the top lender in FHA multifamily and healthcare programs. I look forward to contributing to Greystone’s growth while also learning from their seasoned professionals.”

Greystone, a leading national commercial real estate finance company, announced today that it has arranged a $94 million construction loan for an affiliate of J&L Companies, Inc. (“J&L”) to finance the development of a 12-story, 403-unit Class A multifamily project located at 55 Union Street in the heart of the Ironbound District in downtown Newark, NJ. The construction loan was provided by a four-bank syndicate led by Valley National Bank (“VNB”), with Bank Hapoalim, Abanca USA, and TriState Capital Bank as participants, to finance the project, which also includes 3,000 square feet of retail space and a 196-space parking garage.

The project is located two blocks from Newark Penn Station in the Ironbound District, one of the most desirable residential enclaves in Newark that has become a regional destination known for its vibrant nightlife and diverse mix of restaurants and entertainment options. J&L will deliver a comprehensive, top-of-the-market amenities package, including a rooftop garden and entertainment area; outdoor courtyard with grills; fire pits and lounge space; and state-of-the-art fitness center.

Greystone Capital Advisors, led by President Drew Fletcher, Director Matthew Hirsch, and Vice President Steven Deck, served as the exclusive advisor in arranging the financing on behalf of J&L.

“As a local developer, long-term stakeholder, and property owner for over 40 years, J&L is deeply committed to advancing the revitalization of downtown Newark by developing projects that will create a thriving, vibrant neighborhood for local residents and businesses,” said Mr. Fletcher. “We are excited to have delivered this execution and look forward to growing our relationships with J&L and our financing partners at VNB.”

“We are extremely excited to bring this project to fruition and add to the rich fabric of the Ironbound by providing local and future residents with new housing that perfectly complements the neighborhood,” said Jose Lopez, Founder of J&L. “Greystone, VNB, and the participant lenders were a pleasure to work with on this transaction and we look forward to continue deepening our relationships with each firm in the future.”

Greystone, a leading national commercial real estate finance company, announced that Eliav Dan has joined Greystone’s Commercial team as a Senior Managing Director, based in Los Angeles. In this role, Mr. Dan will focus on structured large loan originations, CMBS, balance sheet lending, and Greystone Agency and FHA programs.

Mr. Dan joins Greystone from Barclays, where he served as West Coast Head, leading both Los Angeles- and New York-based origination teams, and oversaw large loan, CMBS, and balance sheet originations for the West Coast territory. At Barclays, Mr. Dan was instrumental in building out and expanding the firm’s West Coast footprint over the past six years, most notably in loans ranging from $100 million to $650 million. Prior to Barclays, Mr. Dan was Head of the Los Angeles office at Ladder Capital, a publicly traded mortgage REIT, and also served as Founder & Managing Principal of Verona Capital Markets, a boutique real estate advisory firm. Before forming Verona, Eliav was one of two co-founding members who established Morgan Stanley’s West Coast CMBS lending operation in the early 2000s and helped to establish and grow the bank’s presence in the Western U.S.

At Greystone, Mr. Dan will be principally focused on covering both institutional and middle-market borrowers. Mr. Dan reports directly to Scott Chisholm, Greystone’s Executive Vice President and Head of Commercial.

“I’m thrilled to reunite with Eliav, and we look forward to expanding Greystone’s clients on the West Coast and beyond,” said Mr. Chisholm. “Eliav’s leadership and long track record of success will be a valuable addition to the team as we expand Greystone’s industry-leading Fannie Mae, Freddie Mac and HUD-insured lending platforms into the commercial lending space.”

Greystone, a leading national commercial real estate finance company, announced that Ms. Sampada D’silva has joined Greystone as a Deputy Chief Credit Officer, reporting to Scott Thurman, Greystone’s Head of Credit for the FHA lending platform.

Ms. D’silva is based in Chicago and will help meet the growing demand for Greystone’s industry-leading debt offerings in healthcare, including skilled nursing and assisted living assets. Greystone currently ranks as the #1 HUD lender for multifamily and healthcare loans*.

Ms. D’silva brings to Greystone over two decades of healthcare and senior housing investment and lending experience. Prior to joining Greystone, Ms. D’silva was a Senior Managing Director for Cambridge Realty Capital Companies. She brings a wealth of experience in structuring and closing healthcare and senior housing loans with a variety of financing solutions, including HUD-insured and conventional bank mortgages. In her prior role, Ms. D’silva also focused on evaluating and closing healthcare and senior housing acquisition, sale, and leaseback opportunities.

Ms. D’silva holds an MMS, Finance degree from the University of Mumbai, and an MBA from the Quinlan School of Business at Loyola University in Chicago.