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Greystone Arranges $80M Financing Package for Sonida Senior Living
Greystone arranged an $80-million refinancing package for a 10-asset senior housing portfolio across five different states, comprising 941 units. The consolidation and refinancing of various debt obligations was completed by Greystone’s Senior Housing Capital Markets Team, led by Cary Tremper, on behalf of Sonida Senior Living.
The initial term loan of $80 million, provided by a regional bank, has a four-year maturity with an optional one-year extension, and includes up to $50 million of additional capital, including an uncommitted $40 million accordion, to fund Sonida’s future growth initiatives.
The communities included in this portfolio are based across the US and comprise a mix of independent living, assisted living, and memory care units.
“Having an advisory relationship with the Greystone Senior Housing Capital Markets Team resulted in a successful financing outcome for our company, positioning us for continued growth,” said Kim Lody, CEO, president and director, Sonida Senior Living.
Pictured: A Sonida property in Mesquite, TX.
- ◦Financing
