{"id":1004201074,"date":"2017-12-18T09:54:31","date_gmt":"2017-12-18T17:54:31","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004201074"},"modified":"2022-12-03T14:47:47","modified_gmt":"2022-12-03T22:47:47","slug":"ny-mob-lands-17m-loan","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/ny-mob-lands-17m-loan\/","title":{"rendered":"NY MOB Lands $17M Loan"},"content":{"rendered":"

By Alex Ciorogar<\/span><\/p>\n

\"Chautauqua<\/a>

Chautauqua Nursing & Rehabilitation Center in Dunkirk, N.Y.<\/p><\/div>\n

Greystone has provided a $16.5 million HUD-insured permanent loan to refinance Chautauqua Nursing & Rehabilitation Center, a skilled nursing facility in Dunkirk, N.Y. Fred Levine, managing director in Greystone\u2019s Monsey, N.Y., office, arranged the transaction. The long-term FHA financing represents a permanent exit from a bridge loan provided by Greystone in 2015 for VestraCare’s acquisition of the property. The HUD-insured loan carries a 33-year term and amortization at a low, fixed rate.<\/p>\n

The property is a 216-bed skilled nursing facility located on Lake Erie. The medical office facility provides a range of services including\u00a0rehabilitiative\u00a0physical, occupational and speech therapy, as well as memory care, music therapy, palliative care, respite and hospice services. \u00a0\u00a0<\/p>\n

\u201cFHA-insured financing enables lenders like Greystone to make critical investments in facilities that improve public health and serve vulnerable populations including seniors,\u201d<\/em> said Joan Spilman, director of HUD\u2019s Buffalo field office, in a prepared statement. \u201cThe Chautauqua Nursing & Rehabilitation Center is a great example of how public\/private partnerships are revitalizing upstate communities.\u201d<\/em><\/p>\n

In October, Greystone\u00a0secured a five-year, 4.25 percent, fixed-rate acquisition loan<\/a> for a 162,000-square-foot office building in Houston.<\/p>\n

Photo via Google Street View<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The long-term FHA loan represents a permanent exit from a bridge loan that Greystone provided in 2015 for VestraCare’s acquisition of the skilled nursing facility.<\/p>\n","protected":false},"author":928,"featured_media":1004201079,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21825,21783,21754,1600,21742,10],"tags":[32855],"class_list":["post-1004201074","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-finance","category-investment","category-medical-office","category-new-york","category-latest","category-northeast","tag-greystone"],"acf":[],"yoast_head":"\nNY MOB Lands $17M Loan - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/ny-mob-lands-17m-loan\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NY MOB Lands $17M Loan\" \/>\n<meta property=\"og:description\" content=\"The long-term FHA loan represents a permanent exit from a bridge loan that Greystone provided in 2015 for VestraCare's acquisition of the skilled nursing facility.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/ny-mob-lands-17m-loan\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2017-12-18T17:54:31+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-03T22:47:47+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/Capture1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Alex Ciorogar\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/ny-mob-lands-17m-loan\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/ny-mob-lands-17m-loan\\\/\"},\"author\":{\"name\":\"Alex Ciorogar\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/b4a70df0ad52ca9767a9e26548ab1aad\"},\"headline\":\"NY MOB Lands $17M Loan\",\"datePublished\":\"2017-12-18T17:54:31+00:00\",\"dateModified\":\"2022-12-03T22:47:47+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/ny-mob-lands-17m-loan\\\/\"},\"wordCount\":216,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/ny-mob-lands-17m-loan\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2017\\\/12\\\/Capture1.jpg\",\"keywords\":[\"Greystone\"],\"articleSection\":[\"Deals\",\"Finance\",\"Investment\",\"Medical Office\",\"New York\",\"News\",\"Northeast\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/ny-mob-lands-17m-loan\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/ny-mob-lands-17m-loan\\\/\",\"name\":\"NY MOB Lands $17M Loan - 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