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Greystone Provides Financing for $150M Supportive Living Portfolio
Greystone Monticello has provided bridge financing towards the $150 million acquisition of a portfolio of eight Supportive Living Facilities (SLF) across the state of Illinois.
Greystone Senior Managing Director Eric Rosenstock worked with both the buyer and the seller on this transaction and originated the bridge financing. The portfolio of eight SLF properties was financed with a two-year bridge loan and is intended to transition to long-term, fixed-rate financing with Greystone. The Supportive Living Program in Illinois is an alternative to nursing home care for low-income older persons requiring mid-range care needs as opposed to skilled nursing.
“Greystone Monticello’s experience in this asset type means our firm is well-positioned to bring together buyers and sellers through creative financing structures and advantageous exit solutions,” said Rosenstock. The Greystone Monticello joint venture provides a wide range of bridge financing options in the multifamily and seniors housing industries, along with hands-on collateral asset management for clients.
