Greystone, a real estate lending, investment and advisory company, announced its Real Estate Advisors group closed the sale of Woodside Village in Bedford, OH, for $6.5 million, on June 1. Pritok Capital purchased the seniors housing property from a public healthcare REIT, and MB Financial served as lender on the transaction. Greystone represented the seller in the transaction.

Woodside Village, built in 1988, is a 211-unit assisted living and memory care community that sits on 20 acres in the Cleveland, OH area. The facility is 164,920 square feet with an arts & crafts center, beauty and barber shop, billiard lounge, general store and library. The property boasts some of the largest units in the region, a majority of which include a patio or balcony.

“Mike Garbers of Greystone Real Estate Advisors was instrumental in every aspect of this transaction and helped facilitate a smooth and timely closing,” said Dan Feinstein, SVP of Pritok Capital. “I also compliment Joel Gordon and the team at MB Financial for their professionalism, reliability, and expeditiousness in execution.”

The Greystone Real Estate Advisors team leverages its extensive experience in providing expertise on the disposition or acquisition of seniors housing, including age-restricted communities, independent living, assisted living, memory care, and skilled nursing facilities.

The deal marks the largest closing in terms of total deal value by Greystone Real Estate Advisors seniors housing team.

Greystone Real Estate Advisors today announced it has closed the $210 million sale of an 8-property seniors housing portfolio in Texas and Oklahoma. Harrison Street Real Estate Capital and Bridgewood Property Company sold the properties to a private company, Cardinal Bay, based in Texas, on May 26. Greystone represented the seller in the transaction.

The portfolio of properties includes 1,039 units total built between 1989 and 2000:
 

“Cardinal Bay’s long term investment strategy was an ideal fit for this transaction,” said Cody Tremper, a Managing Director of Greystone Real Estate Advisors, who led the sale. “Cardinal Bay, being based in Texas, thoroughly understood the opportunities offered by the local Texas markets.”

“We are pleased that Greystone was able to connect us with a high-quality buyer in Cardinal Bay, who understood the local markets and recognized the value in leaving the current operator, Retirement Center Management, in place,” said Brian Mutchler of Harrison Street Real Estate Capital.

The Greystone Real Estate Advisors team leverages its extensive experience in providing expertise on the disposition or acquisition of seniors housing, including age-restricted communities, independent living, memory care and assisted living facilities.