NEW YORK, Jan. 03, 2019 (GLOBE NEWSWIRE) -- Greystone, a leading commercial real estate lending, investment, and advisory company, announced it has provided $14,000,000 in bridge financing for the acquisition of a 130-bed skilled nursing facility in Johnson County, KS. 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% 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 Mr. 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.”
About Greystone
Greystone is a real estate lending, investment, and advisory company with an established reputation as a leader in multifamily and healthcare finance, having ranked as a top FHA, Fannie Mae, and Freddie Mac lender in these sectors. Our range of services includes commercial lending across a variety of platforms such as Fannie Mae, Freddie Mac, CMBS, FHA, USDA, bridge and proprietary loan products. Loans are offered through Greystone Servicing Corporation, Inc., Greystone Funding Corporation and/or other Greystone affiliates. For more information, visit www.greyco.com.
PRESS CONTACT:
Karen Marotta
Greystone
212-896-9149
Karen.Marotta@greyco.com