Greystone Monticello Closes $16.7 Million in Bridge Financing for Seniors Housing Acquisition in Illinois
April 17 2024 - 12:07PM
Greystone Monticello, a bridge lending program serving as a
one-stop shop provider of capital finance products and services for
the multifamily and senior housing sectors, has closed a
$16,670,000 bridge loan for the acquisition of a seniors housing
property in Illinois. The financing was originated by Karina
Davydov, a Managing Director for Greystone Monticello.
The property comprises independent living, assisted living and
memory care units. The bridge financing closed by Greystone
Monticello carries a two-year term with two six-month
extensions.
“We are excited to deepen our relationship with a top-notch
regional operator as it expands its footprint in the Midwest
market,” said Ms. Davydov. “Greystone Monticello prides itself on
its ability to provide custom solutions in the ever-evolving
capital markets. Another successful execution by the team is a
testament to our efficiency, sophistication, and commitment to our
clients.”
“The Greystone Monticello bridge platform is certainly ideal for
seniors housing operators looking to transact during times of
transition in the market, and we look to exceed their expectations
over the long term,” added Joseph Borenstein, head of the
healthcare sales desk at Greystone Monticello.
About Greystone MonticelloThe
Greystone Monticello joint venture provides a wide range of bridge
financing options in the multifamily and seniors housing industries
along with hands-on collateral asset management to help service our
clients. Greystone Monticello provides clients with exceptional
service with breadth and depth of industry experience. For more
information, visit www.greystonemonticello.com.
About GreystoneGreystone is a
private national commercial real estate finance 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. Loans are offered through Greystone
Servicing Company LLC, Greystone Funding Company LLC and/or other
Greystone affiliates. For more information, visit
www.greystone.com.
PRESS CONTACT:Karen
MarottaGreystone212-896-9149Karen.Marotta@greyco.com