Greystone Provides $75M in Financing for Three-Property Skilled Nursing Acquisition

Little Neck Nursing Center Little Neck Nursing Center

NEW YORK CITY — Greystone has provided $75 million in FHA loans for the acquisition of the three-property Optima skilled nursing portfolio, located in the greater New York City area.

The three properties include the 353-bed Brookside Multicare in Smithtown, the 88-bed White Plains Center for Nursing and Rehab in White Plains, and the 120-bed Little Neck Nursing Center in Queens.

The HUD-insured loans carry a fixed rate, 35-year terms and amortization periods, and were funded via the HUD 232 program for financing of skilled nursing and assisted living facilities.

The Optima portfolio totals 561 beds. All three properties have recently been renovated. The borrower was Avenir Healthcare Group. The seller was not disclosed.

Fred Levine of Greystone originated the loans.

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