Greystone Real Estate Advisors announced it has closed the sale of a 90-unit senior living community on June 1, 2018. The assisted living and memory care community, built in 1999, is located in Palm Springs, California. An operator with local market presence purchased the property from a publicly-traded REIT. The community has strong historical occupancy and has a unique campus setting, with seven one-story buildings on one 4.2-acre site. The property consists of a main community center, four 15-unit assisted living cottages, and two 15-unit memory care cottages. Mike Garbers and Cody Tremper of Greystone Real Estate Advisors represented the seller in the transaction.
The Greystone Real Estate Advisors team leverages its extensive experience in providing expertise on the disposition or acquisition of seniors housing, including age-restricted communities, independent living, assisted living, memory care, and skilled nursing facilities.
About Greystone Real Estate Advisors, Inc.
Greystone Real Estate Advisors, Inc. provides services in sales and acquisitions of seniors housing property types including independent living, assisted living, memory care and skilled nursing, as well as affordable and multifamily properties. The team offers a full spectrum of advisory services including debt, acquisition, and investment sales to funds, private equity groups, regional and national operators, not-for-profit owners and healthcare REITs. For more information, visit www.greycoadvisors.com.
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 proprietary loan products. Loans are offered through Greystone Servicing Corporation, Inc., Greystone Funding Corporation and/or other Greystone affiliates. For more information, visit www.greyco.com.
