NEW YORK, May 24, 2021 (GLOBE NEWSWIRE) – Greystone, a leading national commercial real estate finance company, and MONTICELLOAM, LLC (“MONTICELLOAM”), which through its affiliates provides specialist residential real estate and asset-based loans. Management Services and Consulting Management announced today that it intends to combine the senior housing and healthcare businesses under a new joint venture. The joint venture is expected to become a leading one-stop-shop provider of equity financing products and services to the senior housing and healthcare industries.
Greystone is the leading US healthcare lender for FHA-insured loans. In total, over $ 3 billion in senior housing and healthcare funding is being provided for FHA, Fannie Mae, Freddie Mac, Bridge, and other proprietary platforms. MONTICELLOAM servicing senior housing and healthcare loans totaling approximately $ 1.8 billion in the United States. The joint venture intends to provide first class services and capital solutions for skilled care, assisted living and senior housing.
The joint venture expects to provide senior housing and healthcare facility owners and operators with:
- First adjustable rate mortgage bridging loan;
- Fixed Rate Conventional Term Loans;
- FHA, Fannie Mae and Freddie Mac permanent funding;
- Mezzanine and preferred equity products;
- Tax-exempt bond financing;
- Credit lines for accounts receivable and working capital;
- Loan service and asset management;
- Troubled wealth advice / workout services; and
- Business advice in the health sector
“MONTICELLOAM and Greystone each have a long history of serving the needs of senior housing and health care home owners and operators,” said Stephen Rosenberg, Greystone CEO. “Together we will be even better positioned to meet all of our customers’ needs.”
Alan Litt of MONTICELLOAM commented, “We have known Steve and his team for a long time, and we believe that the ability to customize senior housing and healthcare transactions along with our proprietary technology will enable seamless operations, complemented by Greystone’s historically large presence in the medium-sized bridge and FHA-insured loan markets. Whatever capital or service a senior housing or health customer wants, you can now combine it under one roof. “
Greystone is a privately held national commercial real estate finance company with an established reputation as a leader in multi-family and healthcare finance, ranked as the top lender in these sectors to FHA, Fannie Mae and Freddie Mac. Loans are offered through Greystone Servicing Company LLC, Greystone Funding Company LLC, and / or other Greystone affiliates. For more information, visit www.greystone.com.
The affiliated companies of MONTICELLOAM offer variable interest loans, fixed interest loans with a term of 5, 7 and 10 years as well as working capital credit lines. MONTICELLOAM’s subsidiaries fund qualified care facilities, assisted living facilities, independent living facilities, and other healthcare facilities or senior living communities in the United States. The company was founded in October 2014 by Alan Litt, Thomas Lally and Jonathan Litt, each over 25 years old with years of industry experience as lenders, investors, developers and owners. For more information, visit www.monticelloam.com.