Greystone has provided a $26,000,000 Bridge loan for the acquisition of a skilled nursing facility in California. The financing was originated by Christopher Clare and Ben Rubin of Greystone.
The Greystone Bridge loan includes a 15-month term with a 12-month extension option at a floating rate and is full-term interest-only. Greystone intends to lead the borrower through a permanent financing solution with a HUD-insured loan.
“We are thrilled to have helped the sponsor acquire this beautiful new asset and look forward to ushering them through the FHA loan process, which provides longer terms and lower rates than other permanent debt options in today’s market,” said Mr. Rubin. “As the #1 HUD healthcare lender*, Greystone’s lending expertise and market knowledge are essential resources for sponsors looking to grow and optimize their portfolios.”
*For HUD’s 2024 fiscal year. Based upon combined firm commitments of Greystone Funding Company LLC and Greystone Servicing Company LLC.