Greystone Closes $17M Sale of Two New York State Memory Care Communities
NEW YORK, July 23, 2018 (GLOBE NEWSWIRE) -- Greystone, a commercial real estate lending, investment, and advisory company, announced its Real Estate Advisors group closed the $17,000,000 sale of two 46-unit memory care communities in upstate New York, Peregrine Senior Living at Clifton Park and Peregrine Senior Living at Orchard Park. A private equity group purchased them from a publicly-traded REIT on June 29, 2018. Peregrine Senior Living will continue to operate the communities going forward. Mike Garbers and Cody Tremper represented the seller in the transaction.
Peregrine Senior Living at Clifton Park is located on a 5.25-acre site in Clifton Park, a northern suburb of Albany. Peregrine Senior Living at Orchard Park is located on a 4.49-acre site in Orchard Park, a southern suburb of Buffalo. The communities have strong occupancy rates, with a combined occupancy of 93.9% at closing.
About Greystone Real Estate Advisors, Inc.
Greystone Real Estate Advisors, Inc. provides services in sales and acquisitions of seniors housing property types including independent living, assisted living, memory care and skilled nursing, as well as affordable and multifamily properties. The team offers a full spectrum of advisory services including debt, acquisition, and investment sales to funds, private equity groups, regional and national operators, not-for-profit owners and healthcare REITs.
About Greystone
Greystone is a real estate lending, investment and advisory company with an established reputation as a leader in multifamily and healthcare finance, having ranked as a top FHA and Fannie Mae lender in these sectors. Our range of services includes commercial lending across a variety of platforms such as Fannie Mae, Freddie Mac, CMBS, FHA, USDA, bridge and proprietary loan products. Loans are offered through Greystone Servicing Corporation, Inc., Greystone Funding Corporation and/or other Greystone affiliates. For more information, visit www.greyco.com.
PRESS CONTACT:
Karen Marotta
Greystone
212-896-9149
Karen.Marotta@Greyco.com
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