Greystone Closes $17M in Bridge Financing for IL Seniors Housing

Greystone Monticello has closed a $16.67 million bridge loan for the acquisition of a seniors housing property in Illinois. The financing was originated by Karina Davydov, a managing director for Greystone Monticello. The property comprises independent living, assisted living and memory care units.

“We are excited to deepen our relationship with a top-notch regional operator as it expands its footprint in the Midwest market,” said Davydov. “Greystone Monticello prides itself on its ability to provide custom solutions in the ever-evolving capital markets.”

The bridge financing closed by Greystone Monticello carries a two-year term with two six-month extensions. “The Greystone Monticello bridge platform is certainly ideal for seniors housing operators looking to transact during times of transition in the market, and we look to exceed their expectations over the long term,” added Joseph Borenstein, head of the healthcare sales desk at Greystone Monticello.