National commercial real estate company Greystone provided $25,100,000 in bridge acquisition financing for a 582-bed seven-property portfolio in Missouri.
The loan is interest only for the first two years and includes floating rate bridge financing. It features a 36-month term with two six-month extension options.
Managing Directors Eric Rosenstock and Fred Levine originated the loan for Greystone on behalf of Blue Sky Basin.
“We feel these newly acquired facilities are great opportunities for us to grow in the great state of Missouri,” Blue Sky Basin CEO Eliot Berger said in the press release.
Greystone expects to transition the portfolio to permanent U.S. Department of Housing and Urban Development-insured financing.
Harborview Arranges $19.68M HUD Loan for 2 Illinois SNFs
Commercial real estate finance, equity and advisory firm Harborview Capital Partners announced it arranged a $19,680,000 loan for two skilled nursing facilities in Illinois totaling 205 beds.
Harborview utilized HUD’s 232/223(f) loan program to secure the funding. The non-recourse loan features a 35-year amortization.
Ziegler Closes $104,1350,000 for LTC Community
Specialty investment bank Ziegler announced it closed $104,135,000 million Series 2021 bonds for a 554-unit retirement center in Tempe, Ariz.
The center consists of garden homes and residential apartments, a 128-bed skilled nursing center, a 67-unit assisted living building, 24 memory care beds and a 14-bed hospice unit.
Proceeds of the bonds will be used to refinance Series 2012 bonds, fund the second phase of a construction project and more. The project will include a new five-story building with 64 entrance fee apartments and a new dining facility, replacing an existing 60-unit apartment building.
SLIB Closes $7.75M for 250-Bed SNF Portfolio
Senior Living Investment Brokerage announced the sale of a 250-bed skilled nursing portfolio for $7.75 million.
The SNFs are located in Henrietta, Olney and Nocona, Texas, within 90 miles of each other northwest of Fort Worth.
The seller is an independent owner-operator who is exiting the industry. The buyer is an out-of-state owner-operator purchasing its first nursing homes.
“This transaction allowed for the owner to exit the nursing home business,” SLIB Managing Director Matthew Alley said in the press release. “The deal faced several delays, but the buyer closed at the original offer price.”
Companies featured in this article:
Blue Sky Basin, Greystone, Harborview Capital Partners, Senior Living Investment Brokerage, Ziegler
