Greystone has provided a $46,000,000 bridge-to-HUD loan to refinance a two-property seniors housing portfolio in Ohio. The financing was originated by Christopher Clare, Managing Director, with additional team members including David Young, Ben Rubin, Ryan C. Harkins, Parker Nielsen, and Liam Gallagher assisting on the transaction.
The portfolio, comprising of two communities, includes a combined total of 118 skilled nursing units (186 licensed SNF beds), 16 memory care units, 232 assisted living units (317 licensed AL/MC beds), and 10 independent living units. The bridge loan enables the borrower to refinance the properties and position the assets for long-term, HUD-insured permanent financing.
“Bridge-to-HUD financing is a strategic solution for healthcare operators seeking to execute a transition plan and position assets for agency takeout,” said Mr. Clare. “We are proud to support our client in Ohio with a tailored capital solution that aligns with both their immediate refinancing needs and long-term objectives.”