Greystone Provides $14.6 Million HUD-Insured Loan for Tarrytown Healthcare Facility
June 28, 2018
Category: Healthcare, FHA/HUD
Greystone announced it has provided a $14,592,000 HUD-insured permanent loan to refinance Tarrytown Hall Care Center, a 120-bed skilled nursing facility in Westchester County, New York. The transaction was originated by Fred Levine, Managing Director in Greystone’s Monsey, NY office.
The permanent FHA financing for Tarrytown Hall carries both a 35-year term and amortization period at a low, fixed rate. Tarrytown Hall is located 25 miles north of Manhattan, and offers a variety of highly specialized services, including short-term rehabilitation; post-acute care including occupational therapy, physical therapy, cardiac therapy, stroke recovery, and bariatric rehabilitation; and long-term care with a range of offerings, including respiratory management, diabetes management, wound care, tracheostomy care, pain management, palliative care, and hospice care.
“When the owner was seeking long-term financing for this facility, they turned to Greystone to tap into our extensive expertise with the HUD process, as well as our ability to streamline the process and provide certainty of execution,” said Mr. Levine. “Permanent financing through the HUD 232 program can provide the long-term stability needed to be able to focus on patient care and operations.”
Ephraim Zagelbaum, one of the principals of the facility said, “Fred is the ultimate professional. Together with the entire team at Greystone, the process and execution were flawless.”