Greystone announced that it has provided a $ 36,464,000 loan, insured by the Department of Housing and Urban Development (HUD), to fund three skilled nursing facilities (SNF) in North Carolina.
The property is located in Durham, Rutherfordton and Pinehurst.
Fred Levin provided loans to New York-based Greystone.
The Durham office, Carver Living Center, a 232-bed SNF complex with 48 single rooms and 92 semi-private rooms, sold for $ 17,160,000 with HUD-insured funding and has a 30-year fixed-rate low interest rate. The Willow Ridge Rehabilitation and Living Center in Rutherfordton has 136 RN nursing beds with 20 private rooms and 58 semi-private rooms, which are being sold for $ 11.4 million under HUD-insured funding, which also has a 30-year maturity. fixed low-interest rate.
Finally, the Greens at the Pinehurst Rehabilitation and Residential Center in Pinehurst were refinanced with HUD-insured funding of $ 7,896,000 over a 30-year period.
“We have combined the acquisition of these properties with our permanent HUD transition program,” Levin said in a press release. “Securing ongoing funding through an FHA loan allows the owner to provide long-term funding at low rates for decades.”
Dwight Capital Funding $ 8 Million For DC Nursing Home
Dwight Capital Closes HUD $ 8 Million Loan for Stoddard Baptist Nursing Home, 164-bed SNF in Washington DC
Adam Offman, managing director of Dwight Capital, initiated the deal and cut the loan interest rate by more than 1.5% through refinancing. The loan term and amortization were also extended.
Stoddard Baptist Nursing Home provides 24/7 nursing, short term care, rehabilitation and hairdressing services.
Blueprint helps sell 82-bed spent nuclear fuel in Michigan
Blueprint Healthcare Real Estate Advisors recently announced its involvement in the 82-bed SNF sale in Battle Creek, Michigan.
The facility was built in 1967, renovated in 1985.
It is reported to be ineffective and is a geographic exception for the retailer’s network of businesses in and around Detroit metro.
Blueprint went through a confidential sale process, and the property was ultimately sold to a New York-based buyer interested in expanding its presence in Michigan’s Midwest.
The transaction was completed after the new operator received a Certificate of Need (CON) approval.
Berkadia Seniors Housing & Healthcare Closes $ 5.5M for SNF Oklahoma
Senior housing and healthcare The Berkadia Commercial Mortgage LLC group last week announced the completion of an approximately $ 6 million deal for SNF in Muskogee County, Okla.
A Charleston, South Carolina-based real estate company received HUD-secured loans of $ 5,560,000 for 111 beds; provided on behalf of the sponsor.
The deal reportedly closed on June 17th.
The deal was spearheaded by Berkadia managing director Jay Healy.
Originally built in 1974, SNF has 58 ventilation beds and has historically averaged 75%.
“Given the ongoing workload of the facility and the frequent use of ventilated beds, we expect it to have continued success in the future, especially as we move to normal post-COVID,” Healy said in a press release.