Greystone’s Seniors Housing Lending Team Closes $204 Million in Financing in Q4 2016

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Transactions Range from Fannie Mae Loans to HUD, Bridge, Mezzanine and National Bank Financing

Greystone announced its seniors housing lending team closed over $200 million in financing in the fourth quarter of 2016. The $204,701,800 in capital represents a variety of financing platforms, including Agency loans, debt placement with national banks, and mezzanine financing for both acquisition, refinancing and new construction of 1,699 total seniors housing and multifamily units.

Greystone’s seniors housing lending team, led by Scott Kavel, Neal Raburn and Cary Tremper, completed transactions for 10 different clients from October 2016 through December 2016, including $138 million in Fannie Mae financing alone. Greystone also provided or arranged FHA, bridge, mezzanine loans, and arranged $35 million in national bank loans during this period. Greystone’s deep seniors housing industry expertise and capability to provide a wide range of financing options for property owners has contributed to the breadth of transactions and a robust pipeline of transactions for 2017.

Notable transactions during Q4 2016 include the $48.5 million Fannie Mae refinance of Lake Seminole Square in the Tampa MSA. This deal, closed simultaneously with two others, financed an entrance-fee seniors housing community, a specialized operational model with a unique set of underwriting challenges. Greystone also closed $55 million in financing for three Oakmont seniors housing properties during this period. Additionally, the team provided financing for acquisitions such as Wyndham Lakes, a 245-unit seniors housing property purchased by a private equity group for $21.5 million, a sale closed by Greystone Real Estate Advisors.

“We want to thank our clients for their continued confidence in us as financial advisors, finding solutions for whatever their growing needs may be,” said Mr. Tremper, Managing Director, Greystone. “It’s been a true pleasure to serve our clients again and again, and be able to advise them on a variety of portfolio decisions, supported by an unmatched service platform here at Greystone.”

“We closed out 2016 with the most variety in financing transaction types to date, which is a testament to the set of tools we have at our disposal for property owners,” said Neal Raburn, Managing Director, Greystone. “As the lending landscape continues to evolve, so too will Greystone’s financing capabilities, and we look forward to what 2017 has in store.”

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