MIL-OSI: Greystone Closes $18.8 Million in Financing for Seniors Housing in Michigan

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Source: GlobeNewswire (MIL-OSI)

NEW YORK, Sept. 09, 2021 (GLOBE NEWSWIRE) — Greystone, a leading national commercial real estate finance company, placed $18.8 million in financing for a 136-unit independent living community in Warren, Michigan. The transaction was handled by Greystone’s Seniors Housing Capital Markets Team, including Tyler Armstrong and Matt Miller, on behalf of AEW Capital Management and REDICO, a national real estate development and investment firm.

The financing, closed with a large regional bank, provides a 3-year term. The property, managed by American House Senior Living Communities, one of the country’s largest owners and operators of senior living communities and an affiliated company of REDICO, includes studio, one-bedroom, and two-bedroom apartments. The community features a full physical and occupational therapy gym, billiards and poker room, movie theatre, bistro, indoor atrium and many other amenities. Residents enjoy salon and barber shop services, chef-prepared meals, life enrichment and wellness programming and more.

“We aim to provide a fully integrated suite of financing options, from construction to acquisition and permanent financing, and we are thrilled to have worked with the AEW and REDICO industry professionals on a solution that best fits their needs,” said Cary Tremper, head of Greystone’s Seniors Housing Capital Markets Team.

About Greystone
Greystone is a private national commercial real estate finance 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. Loans are offered through Greystone Servicing Company LLC, Greystone Funding Company LLC and/or other Greystone affiliates. For more information, visit www.greystone.com.

About AEW
Founded in 1981, AEW Capital Management, L.P. (AEW) provides real estate investment management services to investors worldwide. One of the world’s leading real estate investment advisors, AEW and its affiliates manage approximately $88.6 billion of property and securities in North America, Europe and Asia (as of June 30, 2021). Grounded in research and experienced in the complexities of the real estate and capital markets, AEW actively manages portfolios in both the public and private property markets and across the risk/return spectrum. AEW and its affiliates have offices in Boston, Los Angeles, London, Paris, Düsseldorf, Hong Kong, Seoul, Singapore, Sydney and Tokyo, as well as additional offices in eight European cities. For more information please visit www.aew.com.

About REDICO
Founded over 50 years ago REDICO (Real Estate Development and Investment Company) is able to provide a full-spectrum of services for office clients. This includes development, property management, leasing and asset management. For more information, please visit www.redico.com.

About American House Senior Living Communities
Founded in 1979, American House Senior Living Communities provides high-quality independent living, assisted living and memory care housing for seniors in the Midwest, New England, and Florida. For more information, please visit www.americanhouse.com.

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

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