**Greystone Closes $33.9M Bridge-to-HUD Loan for Virginia Skilled Nursing Facility**
Greystone has announced the closing of a $33.9 million bridge-to-HUD loan for the acquisition of a 210-bed skilled nursing facility located in Martinsville, Virginia.
The financing was originated by Managing Director Christopher Clare, along with David Young, Ryan Harkins, Ben Rubin, Parker Nielsen, and Liam Gallagher. The interest-only bridge loan features a 24-month term with two optional six-month extensions and carries a floating interest rate. To hedge against future rate fluctuations, the borrower obtained an interest rate cap.
The property, located at 300 Blue Ridge Street, is a skilled nursing, therapy, and long-term care center that has undergone extensive renovations.
“This financing is a testament to Greystone’s commitment to delivering tailored solutions that support our clients’ growth strategies in the skilled nursing sector,” said Clare.
