Eastchester Realty Associates secured a $23.9m HUD-insured loan from Greystone to refinance a skilled nursing facility in the Bronx, New York. A portion of the loan proceeds will go toward completing renovations at the facility. The non-recourse, permanent FHA financing carries a low, fixed-interest rate with a 30-year amortization. Built in 1967, the 200-bed facility features temporary respite services to long-term skilled nursing care and features a respiratory unit, memory care and short-term rehabilitation.
