Greystone has provided a $33,000,000 bridge loan to refinance a skilled nursing facility in Connecticut. The financing was originated by Fred Levine, Managing Director at Greystone.
The facility, comprising 190 beds, provides long-term care and rehabilitation, Alzheimer’s and dementia care, wound care & IV therapy, and therapeutic recreation. The bridge loan provided by Greystone carries a two and a half-year term with an extension option, and the borrower intends to pursue permanent financing from HUD.
“Greystone’s re-invigorated bridge lending platform has a long track record for providing creative financing for Borrowers to re-invest in their facilities and prepare for permanent financing with HUD,” said Mr. Levine. “Our team has 20+ years’ experience funding successful bridge to HUD transactions. It’s gratifying when repeat Borrowers understand and appreciate the value our experience brings to their transactions,” he added.