Greystone has provided a $45,400,000 bridge-to-HUD loan for the acquisition of four skilled nursing facilities totaling 489 licensed beds located throughout Michigan. The financing was originated by Christopher Clare, along with David Young, Ryan Harkins, Ben Rubin, Parker Nielsen, and Liam Gallagher.
The interest-only bridge financing carries a 24-month term with two 6-month extension options and features a floating interest rate. The borrower also secured an interest rate cap to mitigate future rate fluctuations.
“This transaction underscores Greystone’s experience in structuring complex healthcare acquisitions with tailored financing that positions our clients for long-term success,” said Mr. Clare.