Greystone has provided an $11.9 million HUD-insured loan to refinance a 128-bed assisted living facility in Omaha, Nebraska. The financing was originated by Eric Rosenstock, Managing Director in Greystone’s New York office, along with Jesse Yodice, on behalf of Heritage Communities.
The $11,914,100 HUD-insured financing carries a new 35-year term along with a low, fixed interest rate, creating true cash flow upside given the overall debt service savings. Located on 168th & Blondo, Heritage Pointe Assisted Living consists of 108 assisted living beds and 20 memory care beds with a range of amenities for residents including full dining service, recreational activities, salon / barber shop, exercise facilities, and movie theater.
“Heritage Communities is a true example of the passion required to build a successful seniors housing portfolio,” said Mr. Rosenstock. “It’s a pleasure to help the team fine-tune their assets and take full advantage of the benefits that HUD-insured financing has to offer, and I look forward to future transactions across their portfolio.”
“Greystone is by far the go-to expert in HUD financing, and their healthcare industry expertise is unrivaled as well,” said Mr. Nate Underwood, Co-founder and President of Heritage Communities. “Their guidance and tenacity have helped us continue to grow through the pandemic, and as we come out on the other side, we have even higher aspirations for positive resident outcomes with their help.”