NEW YORK, Oct. 18, 2021 (GLOBE NEWSWIRE) -- Greystone, a leading national commercial real estate finance company, has provided a total of $25,100,000 in bridge financing for the acquisition of a 582-bed portfolio of skilled nursing facilities in Missouri. The transaction was originated by Eric Rosenstock and Fred Levine, Managing Directors at Greystone on behalf of Blue Sky Basin.
The financing includes a floating rate bridge financing from Greystone and features a 36-month term with two six-month extension options and is interest-only for the first two years. Greystone intends to transition the portfolio to permanent HUD-insured financing.
“The Blue Sky Basin team truly cares about making a positive impact on this portfolio for the benefit of the residents, staff, and the communities overall,” said Mr. Rosenstock. “Working with them to secure an acquisition finance structure that supports their goals has been a pleasure, and we look forward to continuing the journey to permanent financing as we pursue a long-term HUD loan next.”
"We feel these newly acquired facilities are great opportunities for us to grow in the great state of Missouri," commented Eliot Berger, CEO, Blue Sky Basin. "This is the first time we have worked with the Greystone team, and we could not have been more impressed by the firm's professionalism and unbelievable execution capabilities."
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.