Greystone Monticello provided bridge financing for the acquisition of a $150 million portfolio of eight Supportive Living Facilities (SLF) across Illinois. Eric Rosenstock, Senior Managing Director at Greystone, worked with both the buyer and seller to originate this two-year bridge loan which is intended to transition into long-term fixed-rate financing.
The Supportive Living Program in Illinois offers an alternative to nursing home care for low-income older persons requiring mid-range care needs as opposed to skilled nursing. With experience in this asset type, Greystone Monticello is well equipped to bring buyers and sellers together through creative financing structures and advantageous exit solutions according to Rosenstock. The joint venture provides a wide range of bridge finance options along with hands on collateral asset management services within the multifamily and seniors housing industries.
