Greystone has provided a $33,900,000 bridge-to-HUD loan to acquire a 210-bed skilled nursing facility in Virginia. The financing was originated by Christopher Clare, Managing Director, along with David Young, Ryan Harkins, Ben Rubin, Parker Nielsen, and Liam Gallagher.
The facility offers 210 units with specialized care services and modern amenities. The interest-only bridge financing carries a 24-month term, with two 6-month extension options, and features a floating rate. The borrower also secured an interest rate cap to mitigate future rate volatility.
“This financing is a testament to Greystone’s commitment to delivering tailored solutions that support our clients’ growth strategies in the skilled nursing sector,” said Mr. Clare.