New York-based commercial real estate lending, investment and advisory company, Greystone, provided $14,000,000 in bridge financing for the acquisition of a 130-bed skilled nursing facility in Johnson County, Kansas. The transaction, which closed on December 18, was originated by Leor Dimant of Greystone.
Greystone provided a 24-month, $14 million bridge loan at 90 percent loan-to-purchase price for the borrower to be able to acquire the property while Greystone begins securing a low, fixed-rate permanent HUD loan.
“Our expanded bridge platform gives us the flexibility to put together the right solutions very quickly, which is important in a changing market,” said Dimant. “We’re excited to be able to deliver this ‘win’ for our clients, and we can now continue with our bridge-to-HUD lending process to get them a long-term financing solution.”