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New York & Tri-State  + Outer  + Healthcare  | 

$54M Refi for Skilled Nursing

Two skilled nursing facilities in the SentosaCare network have refinanced with $54.2 million in new, permanent loans in Queens, NY.

“By securing this long-term financing for both facilities, the borrowers can continue to invest in them for the benefit of the residents, and continue to provide services that are in great need for the Queens community,” said Fred Levine, managing director for Greystone, who originated the 30-year loans through the programs of the Federal Housing Administration.

Brookhaven Rehab, a 298-bed facility refinanced for $21.9 million. Cypress Garden, a 278-bed facility, refinanced for $32.3 million.

“Brookhaven Rehab and Cypress Garden are both unique facilities in that they are quite large, but also very specialized,” says Levine.

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