Greystone, led by Managing Director David Young, successfully secured a $33.7 million debt placement to refinance a portfolio of senior living communities in the Pacific Northwest. The regional owner of these affordable-focused properties sought out Greystone’s assistance in finding suitable financing options.
The portfolio consisted of four properties located across two states, each with specific Medicaid contracts serving residents in assisted living and memory care. To meet the borrower’s expectations for proceeds, Greystone worked diligently to find a lender that could provide adequate financing.
Young stated: “After an extensive search involving banks, credit unions and various types of debt funds including unlevered, A/B tranched and back-levered options – we were able to secure a fitting lender who met our client’s needs.” This successful transaction was made possible due to recent Medicaid rate increases and completed capital expenditures on the communities.
