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Greystone Provides HUD Financing on Long Island SNF
Greystone has provided $78.5 million in HUD-insured financing on a skilled nursing facility complex in the Long Island community of Woodbury, NY. The transaction was originated by Fred Levine, managing director in Greystone’s Monsey, NY office.
The permanent FHA refinance on Cold Spring Hills Center for Nursing & Rehabilitation carries a low, fixed interest rate and 30-year term and amortization. Greystone arranged a high-leveraged bridge loan for the acquisition in June 2016.
The 588-bed facility offers an array of specialized services and programs, including clinical care; physical, occupational and speech therapies; amputee rehabilitation; pulmonary / ventilator care; cardiac care; and memory care. It’s part of the Excelsior Care Group network in the tri-state area.
Significant, multi-year renovations were completed to the property’s five, interconnected residential buildings and additional office building in 2010.
For comments, questions or concerns, please contact Paul Bubny
- ◦Financing