The Real Deal New York

Woodbury nursing home gets $78.5M in Greystone financing

January 21, 2019 10:53AM

The real estate financing firm Greystone & Company gave $78.5 million in U.S. Housing and Urban Development-insured financing to the SentosaCare Network for the Cold Spring Hills Center for Nursing & Rehabilitation in Woodbury. The refinancing carries a low, fixed interest rate and a 30-year term with amortization. The deal, which the Commercial Observer noted replaces a highly leveraged bridge loan from an undisclosed bank that Greystone helped broker in 2016, was spearheaded by Fred Levine, a managing director in Greystone’s Monsey office. The 588-bed skilled nursing facility offers servicesincluding clinical care, cardiac care, memory care and other various therapies. Renovations on the facility’s six buildings was finished in 2010. [Greystone]