Greystone has provided a $50.1 million bridge loan for the acquisition of a six-property skilled-nursing portfolio in Ohio. The transaction was originated by Fred Levine of Greystone.
The portfolio, totaling 719 beds, is secured by a floating-rate, interest-only loan funded through Greystone’s non-recourse bridge loan program. Greystone intends to move the financing to a permanent exit with a HUD-insured loan as soon as possible
The portfolio includes:
- A 150-bed community in Berea, Ohio;
- A 130-bed community in Cleveland, Ohio;
- A 150-bed community in Cleveland, Ohio;
- A 99-bed community in Kent, Ohio;
- An 85-bed community in Clyde, Ohio; and
- A 90-bed community in Waterville, Ohio.