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Chicago & Midwest  + Greater Chicagoland  + Finance  | 

Greystone Provides HUD Refi on Supportive Living Facility

Greystone provided a $13,698,300 HUD-insured loan to refinance a 122-bed Supportive Living Facility (SLF) in Crestwood, IL. The financing was originated by managing director Eric Rosenstock on behalf of The Pointe at Kilpatrick.

Illinois developed the Supportive Living Program as an alternative to nursing home care for low-income older persons requiring mid-range care needs as opposed to skilled nursing. Greystone’s HUD-insured loan carries a 35-year term and low, fixed rate.

“The Supportive Living Facility concept, with its comprehensive range of amenities and services in an affordable housing environment, provides a critical service to the senior care population in Illinois,” said Rosenstock. “Greystone’s unique expertise in HUD-insured financing for healthcare and senior housing property types, as well as our in-depth experience with affordable housing and LIHTC structures, makes us the right choice for solutions in the SLF space.”

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Greystone's Rosenstock

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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