NEW YORK, April 16, 2018 (GLOBE NEWSWIRE) — Greystone, a leading commercial real estate lending, investment, and advisory firm, announced its Real Estate Advisors team closed the sale of Nazareth Living Care Center. Chicago-based Mozart Healthcare, LLC purchased the property from Nazareth Hall, a Texas non-profit corporation, for $6,300,000. Mike Garbers and Cody Tremper of Greystone represented the seller, orchestrating a successful outcome in a complex transaction.
Nazareth is a skilled nursing facility in El Paso, Texas comprising 124 licensed beds. Located on a 3.39-acre site, the community consists of two buildings: one operational building constructed in 2013 with 74 skilled nursing beds and one 50-unit, unused building with 50 inactive licensed beds. Paramount Healthcare is the current operator of the 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, 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.
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 Agency, CMBS, FHA, USDA, bridge, mezzanine, 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.