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Greystone Provides Permanent Loan on Staten Island SNF
Greystone has provided a $20.7-million HUD-insured permanent loan to refinance Golden Gate Rehabilitation & Health Care Center, a 238-bed skilled nursing facility in Staten Island. The facility is affiliated with the Sentosacare network, with which Greystone has completed several transactions in recent years.
The permanent FHA financing for Golden Gate carries both a 35-year term and amortization period at a low, fixed rate. New York City-based Greystone had previously arranged a bridge loan on the facility in 2016, and this HUD-insured financing represents a permanent exit from that interim loan.
The transaction was originated by Fred Levine, managing director in Greystone’s Monsey, NY office.
“Sentosacare-affiliated facilities are truly committed to patient care,” said Levine. “I’m honored to be the point person on the long-standing relationship Greystone has with Sentosacare and its principals.” As a case in point, Medicare has given Golden Gate five stars, its highest possible ranking.
For comments, questions or concerns, please contact Paul Bubny
- ◦Financing
