Greystone Provides $7M in Bridge Financing for Assisted Living Community in Wellsville, New York

WELLSVILLE, N.Y. — Greystone has provided a $7 million bridge loan for the refinancing of a 137-bed assisted living facility in Wellsville, located in the southwestern part of the Empire State. The financing retires the acquisition debt of the borrower, Willow Ridge Senior Living LLC, which acquired the facility in August 2021. Formerly known as Manor Hills, the property also includes 22 memory care beds in a separate wing. Greystone intends to pursue HUD-insured financing as a long-term permanent exit of the bridge financing. The nonrecourse, interest-only bridge loan includes an initial 24-month term with two six-month extensions.