Commercial real estate finance company Greystone has provided $29.9 million in bridge financing for the acquisition of a portfolio of six skilled nursing facilities (SNF) in Rhode Island. The bridge financing was originated by Ryan Harkins and Christopher Clare, both Managing Directors at Greystone.
The skilled nursing facilities are:
- Bayberry Commons in Pascoag, Rhode Island, consisting of 120 SNF beds;
- Eastgate Nursing & Rehabilitation Center in East Providence consisting of 76 SNF beds;
- South Kingstown Nursing & Rehab Center in West Kingston, consisting of 112 SNF beds;
- West Shore Health Center in Warwick, consisting of 149 SNF beds;
- Village House Nursing & Rehabilitation Center in Newport, consisting of 95 SNF beds; and
- Elmwood Nursing & Rehabilitation Center in Providence, consisting of 70 SNF beds.
“Greystone’s bridge lending platform is particularly well-suited for the skilled nursing sector, as we have a variety of industry-leading permanent financing options, including our top-ranked HUD/FHA platform, that can help meet a borrower’s needs,” Harkins said. “Our team’s deep experience in the healthcare and seniors sector is a clear advantage for our clients.”
