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Greystone Provides $37 Million Fannie Mae Loan to Refinance Seniors Housing Property in Texas

NEW YORK, Oct. 08, 2019 (GLOBE NEWSWIRE) -- Greystone, a leading commercial real estate lending, investment, and advisory company, has provided a $37,000,000 Fannie Mae seniors loan to refinance an independent living community located in Pearland, Texas. The transaction was originated by Cary Tremper, on behalf of Integrated Real Estate Group (IREG) and their affiliated operator, Integrated Senior Lifestyles (ISL).

The 10-year senior mortgage refinances Watercrest at Shadow Creek Ranch, a 222-unit independent living community that was constructed in 2017 offering one-bedroom, two-bedroom, three-bedroom, and villa residences. This community offers residents a la carte services, including full services with meals and housekeeping.

Watercrest at Shadow Creek Ranch also offers residents a number of amenities geared toward a healthy lifestyle, including country-club style clubhouse with a robust activities program; heated indoor pool; beautiful courtyards with planter gardens and canal walks adjacent to the grounds.

“The IREG/ISL family of Companies develop, build and operate incredible seniors housing communities,” said Mr. Tremper. “We are thrilled to have worked with the IREG industry professionals on a financing solution that best fits their needs as they continue to grow their seniors housing portfolio.”

About Greystone
Greystone is a real estate lending, investment, and advisory company with an established reputation as a leader in multifamily and healthcare finance, having ranked as a top FHA, Fannie Mae, and Freddie Mac lender in these sectors. Our range of services includes commercial lending across a variety of platforms such as Fannie Mae, Freddie Mac, CMBS, FHA, USDA, bridge and mezzanine. Loans are offered through Greystone Servicing Company LLC, Greystone Funding Company LLC and/or other Greystone affiliates. For more information, visit www.greyco.com.

PRESS CONTACT:
Karen Marotta
Greystone
212-896-9149
Karen.Marotta@greyco.com