Greystone has provided $34.946 million in HUD-insured loans to refinance a portfolio of five skilled nursing facilities across southeastern Wisconsin comprising 558 beds.
The loans were originated by Fred Levine, a managing director of Greystone.
Each of the non-recourse, permanent FHA loans carries a low, fixed interest rate and 30-year term and amortization. The loans refinance the existing debt on the properties, which were purchased in 2017, enabling the borrower to continue with ongoing property improvements. The facilities are located in Antigo, Burlington, Manitowoc and Kenosha.
“We work diligently to bring our clients successfully to the HUD 232 program – the gold standard in skilled nursing home financing,” said Levine. “Our Greystone team is focused on securing solutions that will positively impact our clients’ bottom lines and operations, and we’re always thrilled when we can add tremendous value to their portfolios.”