Greystone, a national commercial real estate finance company, has provided a $15.8 million bridge loan for the acquisition of a skilled nursing, memory care, and personal care campus in Erie, Pennsylvania.
The purchase of Saint Mary’s East renamed Nightingale Nursing and Rehab Center, was secured by a short-term two-year floating rate, interest-only loan, which Greystone will work to transition to permanent HUD-insured financing. The complex includes six buildings comprising 139 skilled nursing beds, of which 39 are for a dedicated for Memory Care residents; 131 licensed personal care beds; and 91 residential living units. Read more.
