Greystone Provides $44 Million in Freddie Mac Financing for San Francisco Seniors Housing Property
October 30, 2019
Greystone announced it has provided a $43,980,000 loan for the acquisition of a 207-unit seniors housing property in Daly City, CA. Cary Tremper originated the financing on behalf of the sponsor, Senior Resource Group (SRG), and its partners.
Located in the San Francisco MSA and constructed between 2008 and 2011, the acquired asset, Peninsula Del Rey (formerly known as Monarch Village), has been managed by SRG since 2012. The property comprises a four-story building over a two-level parking garage with independent living and assisted living units.
“The San Francisco market has seen strong – and growing – demand for seniors housing, and Senior Resource Group has built a reputation for quality sponsorship and management across the sector,” said Cary Tremper, head of Greystone’s seniors housing finance team.
SRG develops, owns and/or manages 32 seniors housing communities in Arizona, California, Florida, Georgia, Oregon, and Washington, comprising 5,852 units.