Greystone Provides $16.8 Million for Supportive Living Community in Illinois Under New HUD Seniors Green Financing Program
NEW YORK, Aug. 16, 2023 (GLOBE NEWSWIRE) -- Greystone , a leading national commercial real estate finance company, has provided a $16.8 million HUD LEAN 232/223(f) green loan to refinance a 102-unit Supportive Living Facility in Rolling Meadows, Illinois.
- NEW YORK, Aug. 16, 2023 (GLOBE NEWSWIRE) -- Greystone , a leading national commercial real estate finance company, has provided a $16.8 million HUD LEAN 232/223(f) green loan to refinance a 102-unit Supportive Living Facility in Rolling Meadows, Illinois.
- The financing was originated by Adam Lipkin, Vice President and Michael Zukerman, Managing Director, of Greystone with Brent Connell of Geneva Capital acting as correspondent on the transaction.
- The Supportive Living program in Illinois is an alternative to nursing home care for low-income older persons requiring mid-range care needs as opposed to skilled nursing.
- This leads to a substantial decrease in annual financing costs and enables a significantly larger loan than HUD-insured financing without the green benefits.