Greystone Provides $36.5 Million in HUD-Insured Financing for Three Skilled Nursing Facilities in North Carolina
Greystone has provided $36,464,000 million in HUD-insured financing for three skilled nursing facilities in North Carolina. The financing was originated by Fred Levine, Managing Director at Greystone.
Located in Durham, North Carolina, the Carver Living Center is a 232-bed skilled nursing facility that includes 48 private rooms and 92 semiprivate rooms. The facility offers long-term care, short-term rehabilitation, and a secured memory care unit. This facility received $17.16 million in HUD-insured financing that carries a 30-year term with a fixed, low interest rate.
Willow Ridge Rehabilitation and Living Center received $11.4 million in HUD-insured financing which carries a 30-year term with low interest rates. Located in Rutherfordton, North Carolina, the facility features 136 skilled nursing beds with 20 private rooms and 58 semiprivate rooms. The facility offers long-term care, short-term rehabilitation, and a secured memory care unit.
The Greens at Pinehurst Rehabilitation & Living Center was refinanced with $7,896,000 in HUD-insured financing with a 30-year term. The skilled nursing facility is licensed for 120 beds in 68 units and is located in Pinehurst, NC.
“We bridged the acquisition of these facilities with our non-recourse bridge-to-HUD program,” said Mr. Levine. “These facilities join a long list of successful HUD financings executed by our team at Greystone over the past 20 years. Securing permanent financing with an FHA loan enables an owner to ensure long-term, low-rate financing for decades.”