Southampton rehab center gets $58.8M in Greystone, HUD-insured financing

April 10, 2019 04:36PM

Greystone & Company has agreed to provide a $58.8 million, U.S. Housing and Urban Development-insured refinancing loan to the Hamptons Center for Rehabilitation & Nursing, according to MultifamilyBiz. Fred Levine, a managing director with the New York City-based real estate financier, said in a statement that the FHA refinancing has a 35-year term and will consolidate the property’s existing debt. Long Island Business News reported that the Hamptons Center, a 280-bed facility that occupies nine acres at 64 County Road 39 in Southampton, opened in 2006 and offers short- and long-term care. The Hamptons Center also has two separate Alzheimer’s disease and dementia care units. The Real Deal reported in February on developers throughout the Tri-State area moving into managed care projects. [MultifamilyBiz]