Texas + State of Texas + Senior Housing | January 5, 2023

Greystone arranges $40.4M Refi for 204-unit senior housing project owner

Greystone Arranges $40.4M Refi for League City Senior Housing

Greystone has provided a $40.4 million Fannie Mae loan for the refinancing of The Delaney at South Shore, a 204-unit seniors housing property in League City, a southeastern suburb of Houston. Tyler Armstrong of Greystone originated the nonrecourse loan, which carries a fixed interest rate, 10-year term and a 30-year amortization schedule. In addition, the debt was structured with five years of interest-only payments. The borrower was Life Care Services, a seniors housing owner-operator based in Des Moines, Iowa. The Delaney at South Shore offers living options for independent living, assisted living, or memory care.

Specializing in agency loans, Greystone has longstanding relationships with Fannie Mae, Freddie Mac, and the Department of Housing and Urban Development. With additional teams focused on CMBS loans, bridge loans, and equity capital solutions.

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About Mike Boyd

Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.