Greystone has provided $78.5 million in HUD-insured financing for Cold Spring Hills Center for Nursing & Rehabilitation in New York.
The refinance carries a low, fixed interest rate and 30-year term and amortization, Greystone said. It had arranged a high-leveraged bridge loan for the acquisition in June 2016.
The facility, located on Long Island and with 588 beds, offers specialized services and programs. Significant, multi-year renovations for the property’s five buildings have been completed this decade.