NY Health Care Center Receives $24M Financing
- Jan 04, 2018
Greystone has provided a $23.5 HUD-insured permanent loan to refinance The Willows at Ramapo Rehabilitation and Nursing Center, a subacute care and skilled nursing facility in Suffern, N.Y. Greystone Managing Director Fred Levine arranged the transaction. The 33-year loan bears a low and fixed amortization rate and will be used for the property’s renovation and debt service savings.
The 203-bed facility sits on six landscaped acres at 30 Cragmere Road, and is the largest subacute community in Rockland County. According to PropertyShark, it was completed in 1972 and totals more than 75,000 square feet. Additionally, it provides a range of services, including orthopedic rehabilitation, cardiopulmonary rehabilitation, wound care, concierge services and veterans programs. The nursing center also features high-quality rehabilitation seven days a week in a spa-like setting.
“Institutions like The Willows at Ramapo improve public health and keep our economy humming,” HUD Regional Administrator for New York and New Jersey Lynne Patton said in a prepared statement. “HUD-insured financing from Greystone will free up resources for patient care and ensure The Willows remains a premier facility for the residents of Rockland County.”
Image via www.thewillowsrehab.com