Greystone provided a $13,698,300 HUD-insured loan to refinance a 122-bed Supportive Living Facility (SLF) in Crestwood, IL. Managing director Eric Rosenstock originated the financing on behalf of The Pointe at Kilpatrick.
Illinois developed the Supportive Living Program as an alternative for low-income older persons requiring mid-range care needs instead of skilled nursing. Greystone’s HUD loan carries a 35 year term and low fixed rate.
Rosenstock commented that “The Supportive Living Facility concept provides critical services to seniors in Illinois with its comprehensive range of amenities and services offered in an affordable housing environment.” He added that “Greystone’s expertise with HUD insured financing for healthcare and senior housing property types as well as their experience with affordable housing and LIHTC structures makes them the right choice for SLF solutions.”
