Greystone Provides $8.6M Loan For Senior Housing In Clarence Center Rd

Located at 8455 Clarence Center Rd in Clarence Center, the asset in question is a senior housing community known as Bristol Village. The property is undergoing an expansion project funded by an $8.6 million construction loan provided by Greystone. The loan will cover the construction of 23,000 square feet of residential and community spaces, adding 32 beds to the existing 84-unit, 110-bed seniors housing community. The facility, originally built in 2003, will see this new construction convert to permanent financing upon completion.

Summary of transaction details:

• Property Type: Senior Housing
• Transaction Amount: $8,600,000.00
• Address: 8455 Clarence Center Rd, Clarence Center
• Market: Clarence Center
• Borrower's Representative: Lisa Fischman
• Lender: Greystone

Lisa Fischman, from Greystone, played a crucial role in arranging the $8.6 million construction loan for the expansion of Bristol Village in Clarence Center. The loan, a fixed-rate financing, aims to facilitate the addition of 32 beds to the existing senior housing community, alongside 23,000 square feet of new residential and communal spaces. Notably, this financing will run concurrently with the property's pre-existing HUD-insured loan, which Greystone originated back in 2011.