Greystone closes on $31m in deals.Greystone Servicing Corporation, Inc., a top ten FHA See Federal Housing Administration. FHA See Federal Housing Administration (FHA). lender provided a $11,827,300 loan to Underbruckner Realty Co., LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control for the refinance of Bronx Center For Rehabilitation and Health Care. Bronx Center For Rehabilitation and Health Care is a skilled nursing facility skilled nursing facility n. Abbr. SNF An establishment that houses chronically ill, usually elderly patients, and provides long-term nursing care, rehabilitation, and other services. located on Underhill Avenue in Bronx, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of . The property was built in 1974 and was acquired by the current owner in 1998. It consists of one six-story elevator building on a 2.16-acre site, and contains 200 beds/units. The financing was provided under the FHA Insurance program 232 Pursuant to 223(f). Greystone also announced that it provided a $12,800,000 bridge loan to Royal Place Properties, LLC for the acquisition of Oakwood Terrace Apartments, Pensacola, Florida. The loan was underwritten in conformance with Greystone Servicing Corporation's Bridge Loan and Rehab Loan Program Guidelines. The loan will enable the borrower meet the timeline requirements of a 1031 exchange while working with Greystone's MAP Group to convert to permanent financing Permanent financing Long-term financing using either debt or equity. permanent financing The long-term financing that supports a long-term asset. under HUD's 223(f) program. And, Greystone provided a $7,525,000 loan to Rainbow Portofino, LLC for the refinance of Portofino Villas Apartments and a $4,675,000 loan to Rainbow Stratford, LLC for the refinance of Stratford Landing Apartments, both in Florida. The loans were cross-collateralized and cross-defaulted. Both loans were underwritten in conformance with the Fannie Mae Multifamily Affordable Housing (MAH See ampere-hour. ) guidelines. |
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