ILLINOIS — Greystone has provided $35.7 million in HUD-insured loans to refinance two supportive living facilities in Illinois.
The two properties consist of a total of 272 units between the two buildings, built in 2004 and 2005. Further details on the properties were not disclosed.
Eric Rosenstock originated the financing on behalf of Grand Lifestyles. The non-recourse loans both carry 35-year terms, full-term amortization and fixed rates.
Illinois developed the Supportive Living Program as an alternative to nursing home care for low-income older persons requiring mid-range care needs as opposed to skilled nursing.