Greystone Arranges $80M Refinancing for 941-Unit Seniors Housing Portfolio

NEW YORK CITY ­— Greystone, a New York City-based commercial real estate finance company, has arranged an $80 million refinancing package for a 10-asset, 941-unit portfolio across five different states.

The consolidation and refinancing of various debt obligations was completed by Greystone’s seniors housing capital markets team, led by Cary Tremper, on behalf of Sonida Senior Living.

The initial term loan of $80 million, provided by a regional bank, has a four-year maturity with an optional one-year extension. The financing includes up to $50 million of additional capital, including an uncommitted $40 million accordion, to fund Sonida’s future growth initiatives.

The communities in the portfolio are based across the U.S. and comprise a mix of independent living, assisted living and memory care units.