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Greystone Real Estate Advisors Closes Sale of 211-Unit Bedford, OH Seniors Housing Community

NEW YORK, June 14, 2016 (GLOBE NEWSWIRE) -- Greystone, a real estate lending, investment and advisory company, announced its Real Estate Advisors group closed the sale of Woodside Village in Bedford, OH, for $6.5 million, on June 1. Pritok Capital purchased the seniors housing property from a public healthcare REIT, and MB Financial served as lender on the transaction. Greystone represented the seller in the transaction.

Woodside Village, built in 1988, is a 211-unit assisted living and memory care community that sits on 20 acres in the Cleveland, OH area. The facility is 164,920 square feet with an arts & crafts center, beauty and barber shop, billiard lounge, general store and library. The property boasts some of the largest units in the region, a majority of which include a patio or balcony.

“Mike Garbers of Greystone Real Estate Advisors was instrumental in every aspect of this transaction and helped facilitate a smooth and timely closing,” said Dan Feinstein, SVP of Pritok Capital. “I also compliment Joel Gordon and the team at MB Financial for their professionalism, reliability, and expeditiousness in execution.”

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, 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, having ranked as a top FHA and Fannie Mae 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.

About Pritok Capital
Pritok Capital is a private equity group based in Skokie IL and focused on acquiring quality senior care properties nation-wide. Woodside Village joins an expanding portfolio of 10 senior care assets, and is the second assisted and retirement living property in Midwest operated by HS Enterprises. Pritok partners with a diversified group of best-in-breed operators for its facilities through leases and joint venture.

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

Source: Greystone