Kalesta Healthcare Group Secures $40.5 Million Bridge Loan From Greystone For Nursing Home Acquisition

The asset involved in this transaction consists of two skilled nursing facilities located at 1275 Crane Street and 931 Idaho Avenue, situated in the markets of Menlo Park and Los Banos. The acquisition included a substantial financing arrangement totaling $40,500,000, aimed at covering both the purchase and planned capital improvements for the properties.

Summary of transation details:

• Property Type: Nursing Home
• Transaction Amount: $40,500,000
• Lender: Christopher Clare, David Young, Ben Rubin, Ryan Harkins, Parker Nielsen, Liam Gallagher - Greystone
• Landlord: Kalesta Healthcare Group
• Broker: Grant Goodman - G Capital Markets
• Loan Type: Bridge
• Loan Terms: two-year, interest-only nonrecourse with two six-month extension options

This transaction reflects the collaboration between Kalesta Healthcare Group, which secured the funding for their operational needs, and Greystone, the lender that facilitated the bridge financing to support the acquisition strategy. The role of Grant Goodman from G Capital Markets as the broker was integral in structuring the deal to meet the specific needs of the landlord.