CIBC Bank provided an $85 million acquisition financing term loan and a $2 million working capital revolving line of credit for a portfolio of skilled nursing facilities in Wisconsin. Historical performance trended positively over the last year as the facilities improved census and operating leverage, CIBC said in a press release. Going forward, occupancy and […]
Greystone
The Future Leaders Awards program is brought to you in partnership with PointClickCare (BHB, SHN, SNN) and Homecare Homebase (HHCN, HSPN). The program is designed to recognize up-and-coming industry members who are shaping the future of behavioral health, home health, hospice and palliative care, senior housing and skilled nursing. To see this year’s Future Leaders, […]
Lenders, operators, industry lobbying organizations and consumer advocates all agree that an expansion of skilled nursing financing programs through the Department of Housing and Urban Development (HUD) could be a game-changer in driving much-needed innovation. Building on suggestions from the National Academy of Sciences, Engineering, and Medicine (NASEM), the authors of a recent Health Affairs […]
The Future Leaders Awards program is brought to you in partnership with PointClickCare. The program is designed to recognize up-and-coming industry members who are shaping the next decade of senior housing, skilled nursing, home health and hospice care. To see this year’s future leaders, visit https://futureleaders.agingmedia.com/. Christopher Clare, managing director at Greystone, has been named […]
Blueprint Healthcare Real Estate Advisors helped facilitate the $42 million sale of a 210-bed skilled nursing and long-term care facility in Pensacola, Fla. The deal amounted to $200,000 per bed and a 9.6% cap rate. Southern Oaks has rebounded to pre-pandemic occupancy of 91% with more than $4 million in annualized trailing EBITDAR — generating […]
Greystone, a national commercial real estate finance company, provided $47 million in HUD-insured loans for five different skilled nursing transactions. The facilities were located in California, Connecticut, North Carolina and Ohio, and involved five different borrowers, according to a news release. Greystone provided an $8,264,000 loan for a 35-bed facility in San Diego; a $10,584,000 […]
Greystone has tapped Hafize Gaye Erkan as its next CEO. While her executive responsibilities will not begin until September, Erkan’s appointment is effective immediately, according to a news release. Erkan is expected to report to former CEO Steve Rosenberg, who will serve as executive chairman of the board. Rosenberg founded the private commercial real estate […]
After more than two years of a devastating Covid-19 pandemic and a historic labor shortage, some players in the skilled nursing space have chosen to prune their portfolio or leave the industry all together — making room for a new batch of operators to step up and take their place. Nursing home businesses like Illinois-based […]
Greystone has provided $12,750,000 in bridge financing for the acquisition of a Texas skilled nursing facility. Highland Meadows Health & Rehab, a 120-bed SNF in Rockwall, Texas. Highland Meadows Health & Rehab, a 120-bed SNF in Rockwall, Texas, was acquired on behalf of HACO Properties, LLC. Greystone Vice President DJ Elefant originated the transaction and […]
Greystone announced it closed a $450 million commercial real estate collateralized loan obligation (CLO) backed exclusively by bridge loans for health care projects. It marks the largest health care CLO ever recorded as Greystone bested its own mark of $300 million set back in 2018. The assets in the CLO consist of skilled nursing, assisted […]
Evans Senior Investments (ESI) announced the sale of a Pennsylvania portfolio in three separate transactions that consisted of eight long-term care communities for the combined purchase price of $150 million or $121,000 per functional bed. The first tranche of the portfolio included four communities totaling 661 licensed skilled nursing beds and 88 independent living cottage […]
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 […]
Specialty investment bank Ziegler announced it closed $120 million Series 2021 bonds for a group that owns and operates 14 continuing care retirement communities (CCRCs) throughout California. The CCRCs consist of 2,188 residential living apartments, 477 assisted living apartments, 161 memory support suites and 656 skilled nursing beds. The bonds will be used to fund […]
The Future Leaders Awards program is brought to you in partnership with PointClickCare. The program is designed to recognize up-and-coming industry members who are shaping the next decade of senior housing, skilled nursing, home health and hospice care. To see this year’s future leaders, visit https://futureleaders.agingmedia.com/. Leor Dimant, managing director at Greystone, has been named […]
Chicago-based specialty investment bank Ziegler announced this month it closed on $85,535,000 Series 2021 Bonds for a not-for-profit corporation with over 30 faith-based human service programs throughout New England. Part of the deal included Fair Havens, which owns and operates Quaboag Rehabilitation and Skilled Care Center, which has a total of 147 skilled nursing beds; […]
Greystone announced that it provided a $36,464,000 loan insured by the Department of Housing and Urban Development (HUD) for the financing of three skilled nursing facilities (SNFs) in North Carolina. The properties are located in Durham, Rutherfordton, and Pinehurst. Fred Levine originated the loans for New York City-based Greystone. The Durham location, Carver Living Center, […]
Greystone announced that it provided a $35 million loan insured by the Department of Housing and Urban Development for the refinancing of a five-property, 558-bed nursing portfolio across southeast Wisconsin. The properties are located in Antigo, Burlington, Manitowoc, and Kenosha. Fred Levine originated the loans for New York City-based Greystone. Each of the non-recourse loans […]
Blueprint Healthcare Real Estate Advisors recently announced its involvement in the sale of a 120-bed skilled nursing and long-term care facility in Erie, Pennsylvania. The facility is reportedly in a competitive submarket and its operating performance had been improving prior to the COVID-19 pandemic. Blueprint received as many as six bids from qualified prospects and […]
Commercial real estate finance firm Greystone and fellow lender and consulting firm MONTICELLOAM on Monday announced a joint venture combining their senior housing and health care lines of business. The joint venture is expected to provide a “one-stop-shop” of capital finance products for the health care and senior housing industries, the New York-based companies said […]
Greystone provided a $17.18 million loan insured by the Department of Housing and Urban Development (HUD) to refinance the 103-unit skilled nursing facility Sapphire Estates Rehab Centre in Tucson, Ariz. The HUD-insured Section 223(a)(7) financing carries a new 40-year term with a low fixed interest rate, and was originated by Greystone managing director Eric Rosenstock […]
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