NEW YORK--(BUSINESS WIRE)--
a leading national provider of multifamily and healthcare mortgage
loans, today announced it provided a $36,696,000 million HUD loan to
refinance a 314-bed skilled nursing facility in Queens, NY. The
transaction was originated by Fred Levine, a leading senior mortgage
banker at the firm.
Greystone initially funded a bridge loan for the acquisition of Holliswood
Center for Rehabilitation and Healthcare by Centers for Specialty
Care Group in May 2013, and closed the permanent FHA financing in less
than one year. The HUD loan carries both a 30-year term and amortization
at a low rate. Holliswood is a 314-bed rehabilitation and skilled
nursing facility located in New York’s Hollis neighborhood.
“We are thrilled to have successfully closed on our permanent HUD
financing for Holliswood after Greystone initially provided our bridge
loan less than a year ago,” said Daryl Hagler, Managing Member of Hollis
Realty, LLC. “With our growing portfolio, it’s important to know that we
have a partner like Greystone to depend on. Many lenders discuss bridge
to HUD loans but only a few can execute as well as Greystone. We look
forward to closing more transactions together,” he added.
“Greystone’s bridge to HUD loan process has become a mature platform
that provides a number of benefits for healthcare property owners,
satisfying the immediate need for funding and enabling the long-term,
low-rate financing for which HUD is known,” said Betsy Vartanian, head
of FHA lending at Greystone.
Greystone provides mortgage finance solutions across multiple platforms,
including FHA, Fannie Mae, Freddie Mac, USDA, CMBS, bridge, mezzanine
and other proprietary loan programs. In 2013, Greystone ranked #1 in
combined multifamily and healthcare FHA lending, #3 in Affordable
Housing volume as a Fannie Mae DUS lender, and as a top-5 Freddie Mac
lender for seniors housing.
Greystone is a financial services and private investment group whose
original core business is multifamily real estate lending. Over the
years, Greystone has added business lines that are related to, and
natural extensions of, its core business. Headquartered in New York with
offices across the U.S., Greystone is active in three major business
segments: Mortgage Finance, Healthcare and Real Estate. Greystone’s
mission is to apply unparalleled creativity while modeling corporate
compassion. Loans are offered through Greystone Servicing Corporation,
Inc., Greystone Funding Corporation and/or other Greystone affiliates.
For more information about Greystone’s multifamily and healthcare
financing solutions please visit http://www.greyco.com.
Karen Marotta, 212-896-9149