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TORRANCE, SACRAMENTO and NOVATO, Calif., and LAS VEGAS — Greystone has arranged debt financing for the acquisition of four senior housing properties in the Southwest.
The borrower was Harrison Street. Although the amount of financing was not disclosed, the acquisition price is $546,700 per unit, which would equate to approximately $254.2 million.
The properties are located in Torrance, Sacramento, Novato and Las Vegas, totaling 465 units. The seller was Gallaher Cos. and the operator is Oakmont Management Group. A life company provided the funds.
This acquisition is the second tranche of a 24-property portfolio that Harrison Street is purchasing in California and Nevada. Greystone arranged financing for 16 of the properties earlier in 2021.