Greystone announced that its Seniors Housing finance team, led by Cary Tremper, recently closed $222.9 million in loan volume at year-end in 2019.
Greystone either placed or provided funding for a recent collection of six transactions at year-end that span Freddie Mac, Fannie Mae, life company, debt fund, and bank loans for seniors housing investors in six different states. The transactions, 50% of which are for new construction, included:
- A 10-year Fannie Mae loan to refinance a 129-unit independent living community in Hendersonville, NC;
- Placed a construction loan from a Texas-based bank for a 250-unit independent living, assisted living, and memory care community to be built in Summerfield, FL;
- A Freddie Mac loan Assumption for a 71-unit seniors housing property in Carmichael, CA;
- A debt fund placement for the refinance of a 134-unit assisted living and memory care community in Dallas, TX;
- Placed a construction loan from a Texas-based bank for a 191-unit seniors housing community to be built in Chandler, AZ; and
- A 10-year Fannie Mae Structured ARM loan for a 96-unit assisted living and memory care community in Boulder, CO.
“I think the sampling of transactions that we closed late last year illustrates the true depth and breadth of our team’s capabilities to be a full-service capital solutions provider for our clients,” said Mr. Tremper. “We have truly embraced the challenges and rewards of working with such high-caliber seniors housing sponsors, and have enjoyed working closely with them to help them grow and optimize their seniors housing portfolios.”