Greystone Provides $41M for Minnesota Senior Housing Portfolio Acquisition
Greystone has provided $41 million in bridge financing to Oxford Capital Group for the acquisition of six assisted living facilities totaling 372 beds in Minnesota.
The financing was originated by Greystone Managing Director Christopher Clare, with support from team members David Young, Ryan Harkins, Ben Rubin, Parker Nielsen, and Liam Gallagher.
The $41 million interest-only, non-recourse bridge loan features a 24-month term with two additional six-month extension options. The properties, located in the Minneapolis area and northern Minnesota, will allow Oxford Capital Group to finalize its acquisition and begin working with Greystone to secure long-term, HUD-insured financing.
“Greystone’s bridge platform is an ideal solution for completing an acquisition, setting the borrower up for success as we begin down the path toward long-term FHA financing,” said Clare.
