Greystone has provided a $50,100,000 bridge loan for the acquisition of a six-property skilled nursing portfolio in Ohio. The transaction was originated by Fred Levine of Greystone.
The portfolio, totaling 719 beds, is secured by a floating rate, interest-only loan funded through our uniquely non-recourse bridge loan program. Greystone intends to move the financing to a permanent exit with a HUD-insured loan as soon as possible
The portfolio includes:
- A 150-bed community in Berea, OH;
- A 130-bed community in Cleveland, OH;
- A 150-bed community in Cleveland, OH;
- A 99-bed community in Kent, OH;
- An 85-bed community in Clyde, OH; and
- A 90-bed community in Waterville, OH.
“I may be getting old, but the excitement of helping quality operators acquire facilities so they can provide amazing care for their residents never gets old,” said Mr. Levine.