The Hamptons Center for Rehabilitation & Nursing
Lending - Bridge / Mezzanine - $54.5M
Greystone closed a $54.5 million bridge loan for acquisition of The Hamptons Center for Rehabilitation and Nursing in Southampton, New York. Fred Levine, originator in Greystone’s Monsey, New York office, worked to close the loan.
The interest-only bridge loan, closed by Greystone in 90 days, is the latest of multiple loans that Greystone has secured on behalf of SentosaCare over the past decade. The Hamptons Center for Rehabilitation and Nursing is a 280-bed skilled nursing facility that currently has a 96.8% occupancy rate. The healthcare center provides a full range of services for its residents including rehabilitation, medical, housekeeping, lab work and physical therapy.
“We’re an organization that places high importance on relationships, and after 10 years of working together, we believe Greystone shares the same values,” said Ben Philipson, principal of SentosaCare. “As a trusted partner, Greystone is well-versed in navigating the challenges of securing financing for skilled nursing facilities and senior housing, especially in regions where property values are quite high,” Mr. Philipson added.