Greystone Provides $63 Million in Total HUD-Insured Financing for Skilled Nursing Portfolio in Pennsylvania
February 11, 2020
Category: Healthcare, FHA/HUD
Greystone provided a total of $62,984,000 in HUD-insured loans to refinance a portfolio of five skilled nursing facilities in Pennsylvania. The transaction was originated by Fred Levine of Greystone on behalf of Maybrook Holdings.
The FHA loans are all non-recourse, long-term and self-amortizing, and the interest rates are both low and fixed for the life of the loans. The portfolio consists of 622 total beds across the five properties in Easton, Millville, Orangeville, and Stevens, PA, which were originally acquired in 2017.
“We are thrilled that Maybrook Holdings turned to Greystone for their financing needs – it’s a testament to the service we provide and our understanding of the particulars of the skilled nursing space,” said Mr. Levine.
“Our experience with Greystone was, once again, exceptional, and our team secured for us the right financing terms quickly,” said Akiva Glatzer, who with David Gamzeh, operates Maybrook Holdings among other portfolios in the northeast.