Greystone closes funding for its senior housing portfolio
NEW YORK, June 29, 2021 (GLOBE NEWSWIRE) – Greystone, a leading national commercial real estate finance company, has provided debt financing for the acquisition of 16 senior housing units in California. The Greystone Seniors Housing team worked alongside the Harrison Street team to find the best financing solution for such a high quality portfolio acquisition, estimated at $ 546,700 per unit, according to SeniorCare Investor.
The 16 properties, operated by Oakmont Management Group, were acquired from two different vendors, Healthpeak Properties and Gallaher Companies and the financing for the acquisition includes both the loan assumptions from Freddie Mac and the financing of a new company. life insurance. The 16 properties include 1,148 units and are part of a portfolio of 24 senior housing communities acquired by Harrison Street in California and Nevada for approximately $ 1.2 billion.
“We are delighted to have played a pivotal role in helping Harrison Street achieve its goal of acquiring key senior housing assets that are functioning well, located in attractive MSAs and poised for success,” said Mr. Cary Tremper, Director of Greystone’s Seniors Housing. The Capital Markets Team. “Greystone prides itself on its ability to find the right size capital solution for its clients, and this unique combination of loan and life insurance company funding assumptions is no exception.
Greystone is a national private commercial real estate finance company with a well-established reputation as a leader in multi-family and healthcare finance, having been ranked among the top lenders by FHA, Fannie Mae and Freddie Mac in these sectors. Loans are offered by Greystone Servicing Company LLC, Greystone Funding Company LLC and / or other companies affiliated with Greystone. For more information, visit www.greystone.com.