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Greystone Provides $20.6 Million HUD-Insured Loan for Staten Island Healthcare Facility

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NEW YORK, July 25, 2018 (GLOBE NEWSWIRE) -- Greystone, a leading commercial real estate lending, investment, and advisory company, announced it has provided a $20,659,400 HUD-insured permanent loan to refinance Golden Gate Rehabilitation & Health Care Center, a 238-bed skilled nursing facility in Staten Island, New York. The transaction was originated by Fred Levine, Managing Director in Greystone's Monsey, NY office. The facility is affiliated with the SentosaCare network.

The permanent FHA financing for Golden Gate Rehabilitation Center carries both a 35-year term and amortization period at a low, fixed rate. Greystone had previously arranged a bridge loan on the facility two years prior, and this HUD-insured financing represents a permanent exit from that interim loan.

Golden Gate is located in the Willowbrook neighborhood of Staten Island, just off of I-278 for easy access both from within the borough and from points beyond NYC. The facility is ranked 5 stars by Medicare, the highest possible ranking. Golden Gate offers services including short-term rehabilitation; long-term residential care; physical therapy; occupational and speech therapy; and neuro and orthopedic rehabilitation.

"Many lenders promote bridge-to-HUD financing, but Greystone delivers time and time again," said Mr. Ben Philipson, co-founder, SentosaCare.

"SentosaCare-affiliated facilities are truly committed to patient care," said Mr. Levine. "I'm honored to be the point person on the long-standing relationship Greystone has with SentosaCare and its principals."

About Greystone
Greystone is a real estate lending, investment, and advisory 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. Our range of services includes commercial lending across a variety of platforms such as Fannie Mae, Freddie Mac, CMBS, FHA, USDA, bridge and proprietary loan products. Loans are offered through Greystone Servicing Corporation, Inc., Greystone Funding Corporation and/or other Greystone affiliates. For more information, visit www.greyco.com.

PRESS CONTACT:
Karen Marotta
Greystone
212-896-9149
Karen.Marotta@Greyco.com

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