The financing was originated by Fred Levine, Managing Director at Greystone. LinkedIn and 3rd parties use essential and non-essential cookies to provide, secure, analyze and improve our Services, and (except on the iOS app) to show you relevant ads (including professional and job ads) on and off LinkedIn. The Optima Portfolio includes 561 beds in total across the three New York skilled nursing facilities, which have each recently been renovated. delivered to your inbox. Zondas economists recently shared an update on the housing market. The complex includes six buildings comprising 139 skilled nursing beds, of which 39 are for a dedicated for Memory Care residents; 131 licensed personal care beds; and 91 residential living units. The transaction was originated by Fred Levine, managing director in Greystone's Monsey office. Implementing our operational plans and enhanced resident care programs to continue and build on Saint Marys reputation of exceptional resident care is our priority., About Greystone:Greystone 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. They have been an incredible partner in this journey, said Mr. Levine. Tristan is the type of person who goes out of his way to help others, often putting the needs of others before his own. Josh has been at Greystone for sixteen years and has been described as someone who works tirelessly behind the scenes. As the No. #risingstar #housing #leader, Join Greystone and Greystones Asian Pacific Islanders Employee Resource Group as we honor and celebrate Asian American Pacific Islanders (AAPI) throughout May and beyond. PRESS CONTACT:Karen MarottaGreystone212-896-9149Karen.Marotta@greyco.com. We keep coming back to Greystone because they work tirelessly to uncover opportunities and secure the right resources to make this vision a reality.. Here are some key takeaways:https://bit.ly/3UTFN01 The portfolio, totaling 719 beds, is secured by a floating rate, interest-only loan funded through our uniquely non-recourse bridge loan program. February 08, 2021 11:43 ET The latest multifamily industry news delivered to your inbox. His integrity is unparalleled, and his deep healthcare industry experience and insight into HUDs perspective will be invaluable to Greystone and our clients.. Read the latest edition of the Commercial Observer online! Find out the professional email of FRED LEVINE , Originador de prstamos, greystone servicing corporation, inc. GetEmail.io : get anyone's email address in seconds . Real estate development 1 min read NEW YORK, April 21, 2021 (GLOBE NEWSWIRE) -- Greystone, a leading national commercial real estate finance company, has provided a $24.9 million HUD-insured. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Gain access to the best healthcare and long-term care investment intelligence, data, and analysis. Fred Levine, Greystone. Greystone has been a trusted and reliable partner as we continue to build our portfolio of assets across the long term care continuum, and I am thrilled with the outcome and Greystones ability to execute long-term HUD financing straight away., We are thrilled to have led a record three closings in one day with HUDs New York office. Not the Fred Levine you were looking for? . NEW YORK, Nov. 08, 2018 (GLOBE NEWSWIRE) -- Greystone, a leading commercial real estate lending, investment, and advisory company, announced it has provided a total of $46,510,000 in Fannie Mae. Residents have access to the gated communitys clubhouse and business center, swimming pool and fitness center, tennis court, picnic and playground area, laundry facility and on-site parking. The transaction was originated by Fred Levine, Managing Director on behalf of Sunset PropCo LLC and Sunset Operating LLC. I may be getting old, but the excitement of helping quality operators acquire facilities so they can provide amazing care for their residents never gets old, said Mr. Levine. It takes a very deep understanding of the skilled nursing industry to continue to lend in the era of the pandemic, said Mr. Levine. #wherepeoplematter #AAPI #BuildingBelonging #AAPIHeritageMonth, Congratulations to Greystone's Josh Butler for being awarded Stephen Rosenberg Founder's #Award for Integrity in 2022. Fred Levine is a Managing Director at Greystone, a commercial real estate lending, investment and advisory company. Save my name, email, and website in this browser for the next time I comment. Freds origination volume exceeds $1B annually. free lookups / month. The White Plains Center for Nursing and Rehab, located at 220 West Post Road, is a smaller-scale facility with 88 beds, while the Little Neck Nursing Center, located at 260-19 Nassau Blvd, has120 beds. Berry, 60, retired and departed HUD early in 2019 as director of production for. 2023 Greystone & Co. II LLC. HousingWires Rising Stars program recognizes industry professionals who have become leaders in their respective fields. Greystone provided $75 million in FHA loans for the acquisition of the Optima Portfolio of skilled nursing facilities including Brookside Multicare in Smithtown, New York; White Plains Center for Nursing and Rehab in White Plains, New York; and Little Neck Nursing Center in Queens, New York. Submit. We are actively seeking to acquire stabilized skilled nursing, memory care, assisted living and independent living properties, said Eric Mendel, CEO of Avenir Healthcare Group and managing member of the Optima Care portfolio. All rights reserved. Others Named Fred Levine. Commercial lending across a variety of platforms such as Fannie Mae, Freddie Mac, CMBS, mezzanine, bridge, and proprietary loan products The purchase of Saint Marys East renamed Nightingale Nursing and Rehab Center, was secured by a short-term two-year floating rate, interest-only loan, which Greystone will work to transition to permanent HUD-insured financing. October 04, 2021 12:33 ET Learn more in our Cookie Policy. Greystones bridge lending group is stepping up its efforts to provide financing solutions to our borrowers so they can continue to focus on resident care.. All rights reserved. Get contact details including emails and phone numbers Search over 700 Greystone Provides $46.5 Million . New York, NY, US View. Greystone Jul 2021 - Present1 year 10 months Co-Founder Cottonwood Funding Jan 2017 - Present6 years 4 months Monsey, New York Perform due diligence on investment opportunities in early stage. Section 232 loans, a program that shields lenders from mortgage defaults and is geared to insure loans that facilitate the construction or rehabilitation of skilled nursing, intermediate care and assisted living facilities, among a couple other classifications; theres also the corresponding Section 232/223(f), which is available for purchases or refinancings of these asset types. We do not own or manage any properties featured on this website, Loans are offered through Greystone Servicing Company LLC, Greystone Funding Company LLC and/or other Greystone affiliates. City University of New York-Brooklyn College, {{ userNotificationState.getAlertCount('bell') }}. Greystone is a national commercial real estate finance company with an . Fred works at Greystone & Co. as Loan Originator. Up to 5 2023 - MULTIFAMILYBIZ.COM - ALL RIGHTS RESERVED, PropTech Innovator 365 Connect Celebrates Twenty-Years of Delivering Leading Edge Solutions to The Multifamily Housing Industry. Greystones extensive lending platform is here to meet client needs through every phase of a projects lifecycle. The facility features 54 semi-private units and 12 private units with a total of 120 beds. Berry, 60, retired and departed HUD early in 2019 as director of production for Federal Housing Administration Section 232 loans, a program that shields lenders from mortgage defaults and is geared to insure loans that facilitate the construction or rehabilitation of skilled nursing, intermediate care and assisted living facilities, among a couple other classifications; theres also the corresponding Section 232/223(f), which is available for purchases or refinancings of these asset types. We see a lot of potential in the former St. Marys East campus, partially due to the large number of private resident rooms, said Dov Braun, Key Principal of the borrowers. Niskayuna, NY Greystone has provided a $27.048 million HUD-insured permanent loan to refinance Pathways Nursing and Rehabilitation Center, a 112-bed skilled nursing facility. Located at 7 NY-25A in Smithtown, New York, Brookside Multicare houses 353 beds, and includes a pediatric unit and ventilator dependent beds. PRESS CONTACT:Karen MarottaGreystone212-896-9149Karen.Marotta@greyco.com. Located in Boonville, 20 miles north of Rome, NY, Sunset Nursing and Rehabilitation Center is growing its occupancy and is the only nursing home in a 15-mile radius. He sources debt and equity finance solutions for owners of multifamily,. Greystone on Tuesday announced the successful closing of a nearly $72 million bridge loan used in the acquisition and refinance of a seven-building . Greystone has provided a $50.1 million bridge loan for the acquisition of a six-property skilled-nursing portfolio in Ohio. . Fredearned aBachelorsdegree at City University of New York Brooklyn College. All Rights Reserved, Mailing: P.O. The $10,370,000 non-recourse bridge loan enables the owner to refinance existing recourse senior debt and continue to stabilize the SNF asset until it is ready for permanent financing with low, fixed-rate financing through FHAs 232(f) program. . Greystone has provided a $10.4 million bridge loan to refinance a 120-bed skilled nursing facility in Boonville, New York. this website is subject to our Terms of Use Agreement. About GreystoneGreystone is a 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. Now that the facility is fully stabilized with a 96% occupancy rate, Greystone provided a $71.78 million loan, or $151,000 per bed, with a 35-year term, to both refinance it and fund a cosmetic renovation. The . , whos spent nearly 20 years at the firm. Fred Levine, managing director at Greystone, originated the transaction. Carver Living Center, located at 303 E. Carver St. in Durham, is the largest . After operating the facility since 2013 and significantly improving performance, Centers acquired it in 2016. Our expertise in the affordable housing space and our industry-leading HUD platform enables us to find solutions that meet the needs of our clients and, ultimately, the residents of property, said Mr. Levine. Constructed by the borrower in 2000, Hampton Court Apartments consists of 19 garden-style apartment buildings offering two- and three-bedroom units with updated appliances, washer/dryer hook ups, and private outdoor living spaces. Greystone Location 152 W 57th St Fl 60, New York City, New York, 10019, United States Description Industry Investment Banking Finance Discover more about Greystone Its incredibly exciting to have Patrick join our team; Ive known Patrick for almost 20 years, Levine said in a statement. This Website features information, materials,products, content, images, links,and services provided by View Fred Levine's email address (f*****@greyc***.com) and phone number. Raleigh, North Carolina, United States . May 27, 2021 Fred Levine Greystone has provided $34.946 million in HUD-insured loans to refinance a portfolio of five skilled nursing facilities across southeastern Wisconsin comprising 558 beds.. Loans are offered through Greystone Servicing Company LLC, Greystone Funding Company LLC and/or other Greystone affiliates. tenure will see him stationed in Detroit, Mich. as a senior production manager, working alongside Greystone managing director. The loans were originated by Fred Levine, managing director at Greystone. Search. Greystone Monticello LLC, a bridge lending platform intended to serve as a one-stop shop provider of capital finance products and services for the senior housing, healthcare and multifamily. Greystone has provided a $50.1 million bridge loan for the acquisition of a six-property skilled-nursing portfolio in Ohio. Advertisement "We are thrilled to have helped our client complete this transaction to expand their SNF portfolio," Levine . Built in 1974, the 475-bed facility in the . No credit card required. The $28,992,00 HUD-insured Section 223(f) financing carries a 35-year term and 35-year amortization, along with a low, fixed interest rate. Greystones longstanding commitment to the affordable housing market mirrors our own, and we value the teams expertise and finesse in getting these transactions to a quick close, said Mr. Elliott Stone, principal of Royal Castle Development. Greystone volunteers enjoyed creating birthday, caring and holiday cards to bring smiles and cheer to older adults throughout the year. Your email address will not be published. New York, New York, NY, United States, US, View 1 healthcare lender for HUD-insured loans, Greystone has built a reputation for not only certainty of execution, but for creativity and sector expertise in the skilled nursing and assisted living world, Berry said in a statement. They have since turned around the operations (with 90% occupancy) and turned to Mr. Levine to receive a $28.87 million ($144,000 per bed) HUD loan to refinance the facility. The $75 million in HUD-insured loans carry a low fixed rate, 35-year terms and amortization periods, and were funded via the HUD 232 program for financing of skilled nursing and assisted living facilities. Select Accept to consent or Reject to decline non-essential cookies for this use. NEW YORK, Oct. 04, 2021 (GLOBE NEWSWIRE) -- Greystone, a leading national commercial real estate finance company, has provided a $50,100,000 bridge loan for the acquisition of a six-property skilled nursing portfolio in Ohio. The property has a LIHTC land use restriction agreement (LURA) that requires limits on tenant income and rent restrictions for all units. Located on opposite sides of the state, these facilities were each acquired a few years ago from not-for-profit owners. If you're not automatically redirected, please click here.
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