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Sapphire Mortgage Services

Vendor Gifted Deposit

advisers arrange this by liaising with vendors, lenders and solicitors. Sapphire Mortgage have plenty of experience in this area and can do the ...

Greystone Provides $29 Million HUD Loan for Queens, NY Skilled Nursing Facility

In 2015, Greystone arranged a highly-leveraged Bridge-to-HUD loan to finance the acquisition and renovation of the 227-bed facility. The Bridge loan provided Sapphire Care Group a period of time to rebrand the facility and significantly improve operations to the point where it was ready for permanent financing with HUD.  

Fred Levine, of Greystone’s Monsey, New York office, originated the Bridge, mezzanine and permanent FHA loan for Sapphire Center for Rehab & Nursing, and the most recent HUD-insured financing represents a permanent self-amortizing exit. The renovated Sapphire Center provides residents access to modern rehabilitation room and state-of-the-art therapy offerings.

“Our mission as a lender is to provide nursing home operators with affordable, long term permanent financing that enables them to focus on providing world class care for their residents without worrying about the financial markets,” said Mr. Levine, Managing Director, Greystone. “Borrowers appreciate our mission-driven focus, experience, and decades-long track record for closing these types of transactions,” he added.

HUD cash deal funds improvements to 'tiredʼ Queens nursing home

Fred Levine, of Greystone’s Monsey, New York office, originated the Bridge, mezzanine and permanent FHA loan for Sapphire Center for Rehab & Nursing, and the most recent HUD-insured financing represents a permanent self-amortizing exit.

The renovated Sapphire Center provides residents access to modern rehabilitation room and state-of-the-art therapy offerings.

“Our mission as a lender is to provide nursing home operators with affordable, long term permanent financing that enables them to focus on providing world class care for their residents without worrying about the financial markets,” said Levine, Managing Director, Greystone. “Borrowers appreciate our mission-driven focus, experience, and decades-long track record for closing these types of transactions.”

“We strive to provide the highest levels of care for our residents. The Bridge loan allowed us to purchase a tired facility, renovate, add a modern rehabilitation center and completely rejuvenate the facility,” said Aryeh Platschek, Principal of Sapphire Care Group.  “We chose Greystone as our lender because we knew of their track record for customer service and providing results,” he added.

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Gemstones = hogwash.