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Greystone Provides $25M Refi on Yonkers SNF
Greystone provided a $24.9-million HUD-insured loan to refinance a 120-bed skilled nursing facility in Yonkers, NY. The financing was originated by Fred Levine, managing director in Greystone’s Monsey, NY office, for L&A RE Acquisition, LLC. Shia Fishman of Capital Stack Advisors acted as correspondent on the financing.
The $24,918,800 HUD-insured financing reduces the repeat borrower’s interest rate and extends the term and amortization of the loan overall. “Reducing interest rates and extending amortization periods result in immediate debt service savings for a borrower,” said Levine.
Built in 2000, Adira at Riverside offers a certified respiratory and ventilator unit, short-term rehabilitation, occupational, physical & speech therapy, amputee rehab, wound care, neuro-rehabilitation, certified cardiopulmonary rehabilitation, long-term skilled nursing care, dedicated Alzheimer’s and dementia care units, as well as stroke & TBI rehabilitation. Amenities at the facility include a modern fitness facility, concierge, and a range of recreational activities for residents.
