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Greystone Real Estate Advisors Close $12.5 Million Sale of 298-Unit Michigan Seniors Housing Community

NEW YORK, Dec. 05, 2016 (GLOBE NEWSWIRE) -- Greystone Real Estate Advisors announced it closed the $12,500,000 sale of the Park at Trowbridge in Southfield, MI. A private equity group purchased the seniors housing property from a publicly-traded REIT on December 1. Mike Garbers and Cody Tremper of Greystone represented the seller in the transaction.

Formerly operated by Brookdale Senior Living, the Park at Trowbridge is a 298-unit independent living community situated on seven acres of land. Built in 1998, the community is 280,000 square feet and offers a variety of amenities including landscaped grounds, a greenhouse, a gazebo, library, restaurant-style dining, and a beauty/barber shop.

The Greystone Real Estate Advisors team leverages its extensive experience to provide 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.

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

Source: Greystone