Greystone Provides $40.4M Refinancing Loan For Seniors Housing In League City

2605 Marina Bay Dr, located in League City, was recently involved in a closed transaction for a seniors housing asset. The property consists of 204 units, making it a substantial development in the market.

Summary of Transaction Details

• Property Type: Seniors Housing
• Transaction Amount: $40,400,000
• Loan Type: Refinancing Loan
• Lender: Greystone - Tyler Armstrong
• Landlord: Life Care Services
• Loan Terms: The loan, provided by Greystone, is a nonrecourse loan with a fixed interest rate. It has a 10-year term and a 30-year amortization schedule. The debt structure includes five years of interest-only payments.

Tyler Armstrong from Greystone served as the lender's representative in the deal, ensuring a smooth refinancing process for the property. Life Care Services acted as the landlord throughout the transaction.