Greystone provided a $13,698,300 HUD-insured loan to refinance The Pointe at Kilpatrick, a 122-bed Supportive Living Facility (SLF) in Crestwood, IL. This financing was originated by managing director Eric Rosenstock and carries a 35-year term and low fixed rate.
The Illinois Supportive Living Program is an alternative to nursing home care for low income older persons requiring mid range care needs as opposed to skilled nursing. It offers comprehensive amenities and services in an affordable housing environment that provides critical service for the senior population of Illinois.
Rosenstock commented on the importance of Greystone’s expertise with HUD insured financing for healthcare facilities such as SLFs along with their experience in affordable housing structures like LIHTC: “Our unique knowledge makes us the right choice when it comes to solutions within this space.”
