National commercial real estate company Greystone provided $ 25,100,000 bridging funding for a 582-bed portfolio of seven properties in Missouri.
The loan only bears interest for the first two years and includes variable interest bridging financing. It has a term of 36 months with two six-month extension options.
The directors Eric Rosenstock and Fred Levine made the loan for Greystone on behalf of Blue Sky Basin.
“We believe these newly acquired facilities are great opportunities for us to grow in the great state of Missouri,” said Eliot Berger, CEO of Blue Sky Basin, in the press release.
Greystone expects to move the portfolio to permanent funding from the US Department of Housing and Urban Development.
Harborview arranges HUD loans of $ 19.68 million for 2 Illinois SNFs
Commercial real estate finance, investment and advisory firm Harborview Capital Partners announced that it has arranged a $ 19,680,000 loan for two qualified care facilities in Illinois with a total of 205 beds.
Harborview used HUD’s 232/223 (f) loan program to secure funding. The loan without recourse has a repayment of 35 years.
Ziegler Closes $ 104.1350,000 for the LTC Community
Specialty investment bank Ziegler announced that it has closed $ 104,135,000 million in Series 2021 bonds for a 554-unit retirement center in Tempe, Arizona.
The center consists of garden houses and residential apartments, a specialist care center with 128 beds, a building for assisted living with 67 units, 24 care beds and a 14-bed hospice unit.
The proceeds from the bonds will be used to refinance the 2012 series bonds, finance the second phase of a construction project, and much more. The project will include a new five-story building with 64 entry-price apartments and a new catering facility that will replace an existing 60-unit residential building.
SLIB closes $ 7.75 million for 250-bed SNF portfolio
Senior Living Investment Brokerage announced the sale of a 250 bed qualified nursing portfolio for $ 7.75 million.
The SNFs are located in Henrietta, Olney and Nocona, Texas, within 90 miles northwest of Fort Worth.
The seller is an independent owner-operator who is leaving the industry. The buyer is a foreign owner and operator acquiring their first nursing homes.
“This transaction allowed the owner to exit the nursing home business,” said Matthew Alley, SLIB Managing Director, in the press release. “There were several delays in the deal, but the buyer closed the deal at the original asking price.”