NEW YORK, NY - Greystone, a leading national commercial real estate finance company, announced it has arranged a $33.7 million debt placement to refinance a portfolio of seniors communities in the Pacific Northwest. The transaction was sourced by David Young, a Managing Director at Greystone on behalf of a regional owner of affordable-focused senior housing communities.
There were four properties total across two states. Each community has a specific Medicaid contract with the state serving assisted living and memory care residents. The financing was provided by a debt fund meeting the borrower’s expectations on proceeds.
“With recent Medicaid rate increases and capital expenditures completed on the communities, we were seeking to maximize proceeds for this debt request. We sourced a fitting lender after an extensive process working with banks, credit unions and unlevered, A/B tranched, and back-levered debt funds,” said Mr. Young. “Greystone works to exceed our clients’ expectations and deliver solutions that can solve unique challenges.”
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