CARMICHAEL, Calif. and DENVER — Greystone, a real estate lending, investment and advisory company, has provided $49.5 million in Freddie Mac loans to refinance two assisted living and memory care facilities in Denver and the Sacramento suburb of Carmichael.
The company’s Scott Kavel and Cary Tremper originated the loans in two separate transactions.
In the first transaction, Oakmont Senior Living received a $25.2 million loan to refinance Oakmont of Carmichael, a 71-unit assisted living and memory care community in Carmichael.
The loan carries a 10-year, fixed-rate term with a 30-year amortization. The property is newly constructed and includes a two-story building located on 2.4 acres.
In the second transaction, Spectrum Retirement Communities received a $24.3 million loan to refinance HighPointe Assisted Living and Memory Care, a 97-unit assisted living and memory care community in Denver.
The loan carries a seven-year term and three years of interest-only payments.