Greystone Servicing Corporation Closes on $82 Million Seniors Healthcare Related Bridge Loans in September.

NEW YORK -- Greystone Servicing Corporation Inc., ("GSC"), announced that in September it has closed on bridge loans in the seniors health care lending market totaling $82 million. GSC is one of the top tier FHA lenders and is a top tier Fannie Mae seniors lender as well as a direct bridge lender.

For the month of September, Greystone Servicing Corporation had one of its most impressive monthly bridge loan totals, driven by closings in California, Nevada, and North Carolina, and particularly targeted in the area of skilled nursing facilities.

"Greystone Servicing Corporation is a growing player in the Seniors Healthcare lending market because of our ability to move quickly, confidently and easily to provide critical financing to builders and developers," said Betsy Vartanian, Executive Vice President of Greystone Servicing Corporation. "We believe that our approach is gaining traction and we are focused on continuing to execute strategy and deliver value for our clients and partners."

Key deals for the month include:

* $48 million bridge loan with SNF Management, Inc.

* Proceeds used to refinance 844-bed portfolio of six skilled nursing facilities in California

* Loan provides initial term of 24 months and bears a floating rate of interest based on 30 day LIBOR 

* $18.5 million bridge loan for B.R. Regency, LLC.

* Proceeds used to acquire 188-bed skilled nursing facility in Las Vegas

* Loan provides initial term of 12 months and bears a floating rate of interest based on 30 day LIBOR

* $12.3 million bridge loan for TJM Properties, Inc.

* Proceeds used to acquire 151-unit IALF on central North Carolina coastline

* Loan provided a base term of 24 months with two six-month options to extend

Greystone Servicing Corporation is a direct bridge lender servicing clients of any size, from individuals to developers to builders and large corporations. The Company's industry expertise, borne through extensive work with FHA and Fannie Mae, contributes to its ability to structure complex back-end financing deals. Greystone utilizes senior executives on each deal regardless of its size, and attributes its ability to move quickly and efficiently to is private statues. GSC also has experience as an owner and operator of multifamily, seniors and healthcare facilities.

About Greystone Servicing Corporation, Inc.

Greystone Servicing Corporation, Inc (GSC) is based in Bethesda MD and Warrenton, VA. Through brokers, correspondents and in-house professionals, GSC originates approximately $1.25 billion annually in new mortgage loans secured by multi-family, healthcare, seniors housing and commercial properties. Fannie Mae has designated GSC as a Seniors Housing, Affordable Housing and 3Max Express[TM], DUS[TM] lender. GSC has also been designated by HUD as an FHA Mortgagee and MAP Lender and is active in HUD's Section 221 (d) (4), 232, 242, and (a) 7 programs, and is a Ginnie Mae issuer. GSC also provides bridge and mezzanine loans in conjunction with its mortgage banking programs. In addition to conventional financing, Greystone has special expertise in credit enhancement of tax-exempt bonds.

A Standard & Poor's (S&P) ranked commercial servicer, GSC has participated in numerous rated transactions, and currently services a portfolio consisting of approximately $7 billion in commercial, multifamily and health care loans. GSC's servicing platform encompasses asset management, investor reporting, custodial accounting, lease administration, property and account management, and debt restructuring.

DUS and 3MaxExpress are trademarks of Fannie Mae.