Greystone provided $41 million in bridge financing to Oxford Capital Group for the acquisition of six assisted living facilities totaling 372 beds in Minnesota.
The financing was originated by Greystone Managing Director Christopher Clare.
Greystone’s $41 million interest-only non-recourse bridge loan carries a 24-month term with two six-month extension options. The acquisition financing for the properties located in the Minneapolis area and northern Minnesota enabled the borrower to close the transaction and begin working with Greystone on securing permanent HUD-insured financing.
Greystone’s David Young, Ryan Harkins, Ben Rubin, Parker Nielsen, and Liam Gallagher assisted on this transaction.
