New York & Tri-State CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Greystone Lines Up HUD-Insured Loan on Bronx SNF
Greystone has provided a $23.9-million HUD-insured loan to refinance a skilled nursing facility property in the Bronx. The non-recourse permanent FHA financing of the 200-bed Eastchester Rehab & Health Care Center carries a low, fixed interest rate and 30-year term and amortization.
The transaction was originated by Fred Levine, managing director in Greystone’s Monsey, NY office, on behalf of Eastchester Realty Associates. A portion of the loan proceeds will go toward completing renovations to the facility, which was built in 1967.
Eastchester Rehab & Health Care Center provides a full continuum of care, from temporary respite services to long-term skilled nursing care, with a respiratory unit, memory care and short-term rehabilitation.
“We strive to make the process of securing HUD financing as easy as possible,” Levine said.
For comments, questions or concerns, please contact Paul Bubny
- ◦Financing
