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Greystone Provides HUD Refi on Supportive Living Facility
Greystone provided a $13,698,300 HUD-insured loan to refinance a 122-bed Supportive Living Facility (SLF) in Crestwood, IL. The financing was originated by managing director Eric Rosenstock on behalf of The Pointe at Kilpatrick.
Illinois developed the Supportive Living Program as an alternative to nursing home care for low-income older persons requiring mid-range care needs as opposed to skilled nursing. Greystone’s HUD-insured loan carries a 35-year term and low, fixed rate.
“The Supportive Living Facility concept, with its comprehensive range of amenities and services in an affordable housing environment, provides a critical service to the senior care population in Illinois,” said Rosenstock. “Greystone’s unique expertise in HUD-insured financing for healthcare and senior housing property types, as well as our in-depth experience with affordable housing and LIHTC structures, makes us the right choice for solutions in the SLF space.”
- ◦Financing
