Greystone Provides $29 Million in HUD-Insured Financing for Skilled Nursing Facility in Tucson, Arizona
June 24 2024 - 9:39AM
Greystone, a leading national commercial real estate finance
company, has provided a $29,432,000 HUD-insured loan to refinance a
240-bed skilled nursing facility in Tucson, Arizona. The financing
was originated by Eric Rosenstock, Senior Managing Director at
Greystone, on behalf of Sapphire of Tucson Properties, LLC.
Sandstone of Tucson Rehab Centre in Pima County
is a long-term skilled nursing and post-acute rehabilitation
facility that includes 127 units, consisting of 43 private and 84
semi-private rooms. The facility offers 24-hour skilled nursing,
post-acute care and specialized programs, including orthopedic and
comprehensive rehabilitation, ventilator care, behavioral health
services and chronic disease management. The permanent FHA loan
carries a 35-year term and amortization.
“We lean into our deep industry expertise so our clients can
reap the benefits of permanent FHA financing, which is a highly
attractive long-term financing option for skilled nursing home
operators,” said Mr. Rosenstock. “Greystone’s time-tested HUD
platform and process helps our clients to provide quality housing
and care to their residents.”
“Greystone’s extensive experience in the skilled nursing space
was clearly evident as they worked diligently to secure us the
right terms for this facility,” said Mr. Elisha Atkin, principal of
the borrower. “The level of care and attention to detail we enjoyed
from our team made us feel like we had a true partner throughout
the process.”
About GreystoneGreystone is a
private national commercial real estate finance company with an
established reputation as a leader in multifamily and healthcare
finance, having ranked as a top FHA, Fannie Mae, and Freddie Mac
lender in these sectors. Loans are offered through Greystone
Servicing Company LLC, Greystone Funding Company LLC and/or other
Greystone affiliates. For more information, visit
www.greystone.com.
PRESS CONTACT:Karen
MarottaGreystone212-896-9149Karen.Marotta@greyco.com