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Greystone Real Estate Advisors Closes $44.8 Million Sale of Seniors Housing Portfolio in Indiana

NEW YORK, Feb. 09, 2016 (GLOBE NEWSWIRE) -- Greystone, a real estate lending, investment and advisory company, today announced its Real Estate Advisors group has closed the $44,750,000 sale of a two-property seniors housing portfolio in Indiana. Leo Brown Group sold the seniors housing properties to an undisclosed private equity investment fund on December 9th, 2015.

Traditions at Reagan Park and Traditions at Solana are both newly-constructed independent, assisted, and memory care communities with 81 units and 105 units, respectively. The properties boast an abundance of amenities including restaurant-style dining; a beauty salon; a chapel; laundry facilities; 24-hour nursing services; a theater; a fitness center and walking paths with views. Located in the Indianapolis metropolitan area, the properties are also well-situated and close to neighboring hospitals, physician offices and pharmacies, as well as cultural and entertainment destinations.

“Traditions at Reagan Park and Traditions at Solana offer the seniors’ population in Indianapolis a wide range of cohesive lifestyle options that promote living independence – a current selling point trend in the market,” said Cody Tremper, a Managing Director of Greystone Real Estate Advisors, who led the sale of the portfolio.

Tom Smith of Leo Brown Group said, “The superb location and unique amenities were just some of the major factors that lent to the buyer appeal of these properties. The expeditious follow through on Greystone’s end to ensure that our goals were met in marketing and selling a first-rate portfolio were critical components to the transaction. We are especially satisfied with the fact that our company Traditions Management will continue managing Reagan Park and Solana, which ensures a seamless transition for our valued residents at each community.”

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, memory care and assisted living 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. The team offers a full spectrum of advisory services including debt, equity, acquisition, and investment sales to funds, private equity groups, regional and national operators, not-for-profit owners and healthcare REITs.

About Greystone
Greystone is a real estate lending, investment and advisory company with an established reputation as a leader in multifamily and healthcare finance, consistently ranking as a top FHA and Fannie Mae lender in these sectors. Loans are offered through Greystone Servicing Corporation, Inc., Greystone Funding Corporation and/or other Greystone affiliates. For more information, please visit www.greyco.com.

About Leo Brown Group
Formed in 2006, Leo Brown Group, LLC is a privately-held company located in Indianapolis, Indiana with a primary focus on the development, ownership, and operations of senior living properties. Leo Brown Group’s management company affiliate, Traditions Management, LLC, manages all senior living communities developed by Leo Brown Group.

PRESS CONTACT: Aziree Pemberton Greystone 212-896-9150 APemberton@Greyco.com

Source: Greystone

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