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COLUMBIA, S.C. — Greystone has arranged $27.1 million in financing for Merrill Gardens at Columbia, a seniors housing community in Columbia.
The regional bank loan for the 120-unit independent living and assisted living community was executed as a floating-rate financing carrying a five-year term and 30-year amortization. The loan featured three years of interest-only payments and a mid-200 basis point loan spread.
Tyler Armstrong, managing director at Greystone, worked with the client in placing the bank loan for AEW Capital Management and Merrill Gardens.