Greystone Provides $17.2 Million in HUD-Insured Financing for Skilled Nursing Facility in Tucson, AZ

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Greystone Provides $17.2 Million in HUD-Insured Financing for Skilled Nursing Facility in Tucson, AZ
GreystoneApril 26, 2021 GMT
NEW YORK, April 26, 2021 (GLOBE NEWSWIRE) -- Greystone, a leading national commercial real estate finance company, has provided a $17.2 million HUD-insured loan to refinance a 103-unit skilled nursing facility in Tucson, Arizona. The financing was originated by Eric Rosenstock, Managing Director in Greystone’s New York office, on behalf of Eli Atkin & Shua Seif of Sapphire Estates Properties LLC.
The $17,181,200 HUD-insured Section 223(a)(7) financing carries a new 40-year term along with a low, fixed interest rate, creating true cash flow upside, given the debt service savings. Located in Pima County, Sapphire Estates Rehab Centre consists of comprehensive skilled nursing services, as well as physical, occupational and speech therapy. The property, built in 2016, offers amenities for residents including a fitness center, spacious dining areas, and outdoor recreational activities.

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