NEW YORK, May 25, 2021 (GLOBE NEWSWIRE) – Gray stoneThe 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 qualified care facilities in southeast Wisconsin with 558 beds. The loans were made by Fred Levine, a Greystone executive director.
Each of the non-recourse, permanent FHA loans have a low fixed rate, 30 year term and amortization. The loans refinance the existing debt on the properties purchased in 2017 and allow the borrower to continue with the ongoing property improvements. The facilities are located in Antigo, Burlington, Manitowoc and Kenosha.
“We are working diligently to successfully bring our customers to the HUD 232 program – the gold standard for funding qualified nursing homes,” said Levine. “Our Greystone team is focused on securing solutions that have a positive impact on our customers’ bottom line and operations. We are always excited when we can add tremendous value to their portfolios.”
“Greystone understood what we needed to do and, given their comprehensive credit platform and understanding of the skilled care market, had the right resources to get us where we need to be,” said Mark Ruvel, director of the borrower. “We are impressed with Greystone’s service and care in executing our transaction – you are a true partner.”
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.