Eastern Union, Greystone Arrange $105M Acquisition Loan for 13-Property Portfolio in Kentucky

by Jeff Shaw

NEW YORK CITY — Eastern Union Funding and Greystone & Co. have arranged a $105 million loan for a New York-based owner-operator. The loan will be used to partially fund the $120 million acquisition of 12 skilled nursing facilities and one assisted living community in Eastern Kentucky.

The portfolio totals 1,239 beds and was 95 percent occupied at the time of sale. The seller was not disclosed.

Phil Krispin and C.J. Danziger of Eastern Union, along with Greystone’s Jonathan Coven, secured the financing from several regional banks in the eastern U.S. The loan includes flexible pre-payment terms to allow for an FHA exit. 

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