Woodbury, NY Greystone, a leading commercial real estate lending, investment, and advisory company, has provided $78.533 million in HUD-insured financing on a skilled nursing facility (SNF) complex. The transaction was originated by Fred Levine, managing director in Greystone’s Monsey office.
The $78.533 million permanent FHA refinance carries a low, fixed interest rate and 30-year term and amortization. Greystone arranged a high-leveraged bridge loan for the acquisition in June 2016.
Located on Long Island, the 588-bed Cold Spring Hills Center for Nursing & Rehabilitation facility offers an array of specialized services and programs, including clinical care. Significant, multi-year renovations were completed to the property’s five, interconnected residential buildings properties and additional office building in 2010.
“It’s gratifying when sophisticated industry leaders such as these borrowers recognize the value we bring to transactions and continue to come back to Greystone for their financing needs,” said Levine. “We pledge to continue to deliver unparalleled execution.”