Greystone, a national commercial real estate finance company, has provided $12.75 million in bridge financing for the acquisition of Highland Meadows Health & Rehab, a 120-bed skilled nursing facility in Rockwall, Texas. The financing was originated by DJ Elefant, Vice President at Greystone, on behalf of HACO Properties. Helios Healthcare Advisors served as the debt broker in the transaction.
The financing features a 24-month term with one 12-month extension option and is interest-only. Greystone has already begun working with the new owner to follow a path in exiting the interim financing with a long-term HUD-insured permanent loan.
The 5-star rated facility, operated by HACO Health Solutions, provides both private and semi-private residential units, as well as a number of amenities for its residents including a salon, dayroom, and library. Comprehensive therapy services available include in-patient offerings such as physical, occupational, and speech therapies, and specialized programs such as ortho, stroke recovery, post-surgical and cardiac rehabilitation. Read more.
