NEW YORK, NY - Greystone, a leading national commercial real estate finance company, has provided a total of $34,960,000 in HUD-insured loans to refinance a portfolio of five skilled nursing facilities across southeastern Wisconsin comprising 558 beds. The loans were originated by Fred Levine, a Managing Director of Greystone.
Each of the non-recourse, permanent FHA loans carries a low, fixed interest rate and 30-year term and amortization. The loans refinance the existing debt on the properties, which were purchased in 2017, enabling the borrower to continue with ongoing property improvements. The facilities are located in Antigo, Burlington, Manitowoc, and Kenosha.
“We work diligently to bring our clients successfully to the HUD 232 program – the gold standard in skilled nursing home financing,” said Mr. Levine. “Our Greystone team is focused on securing solutions that will positively impact our clients’ bottom lines and operations, and we’re always thrilled when we can add tremendous value to their portfolios.”
“Greystone understood what we needed to do, and because of its extensive lending platform and understanding of the skilled nursing marketplace, had the right resources to get us where we need to be,” said Mark Ruvel, principal of the borrower. “We are impressed with Greystone’s service and care in getting our transaction completed – they are a true partner.”
About Greystone: Greystone is a private national commercial real estate finance company with an established reputation as a leader in multifamily and healthcare finance, having ranked as a top FHA, Fannie Mae, and Freddie Mac lender in these sectors. Loans are offered through Greystone Servicing Company LLC, Greystone Funding Company LLC and/or other Greystone affiliates. For more information, visit www.greystone.com