Greystone Provides $50.2 Million Bridge-to-HUD Loan for 84-Bed California Healthcare Portfolio
NEW YORK, Oct. 5, 2026 — Greystone has provided a $50.2 million bridge-to-HUD loan to refinance a healthcare portfolio totaling 84 licensed beds in California, the firm announced. The financing was originated by Christopher Clare, senior managing director, with David Young, Ben Rubin, Ryan C. Harkins, Parker Nielsen and Liam Gallagher assisting on the transaction.
Bridge-to-HUD Loan Refinances Existing Debt
The $50,200,000 bridge loan enables the borrower to refinance existing debt and positions the portfolio for long-term, HUD-insured permanent financing. The portfolio is now expected to proceed toward FHA/HUD permanent financing through Greystone.
Based on the announced loan amount and the portfolio's 84 licensed beds, the loan equates to roughly $597,619 per licensed bed. That figure is a simple calculation, not a reported valuation or purchase price. Licensed beds may differ from physical rooms, operating units or occupied beds.
The transaction is a refinancing rather than a sale. No acquisition or change of ownership was announced.
Repeat Financing Relationship With the Portfolio
Greystone previously provided bridge financing for the portfolio in 2022 and 2023 to support the properties as they seasoned for an eventual HUD takeout.
"Bridge-to-HUD financing provides healthcare operators with the flexibility to address their immediate capital needs while establishing a clear path toward long-term financing," said Mr. Clare. "Our familiarity with this portfolio and its operating history allowed us to structure a solution that supports the borrower's refinancing objectives while positioning the assets for a seamless transition to HUD-insured permanent financing."
How Bridge-to-HUD Financing Works in Healthcare
Bridge-to-HUD financing is generally used when an operator needs immediate refinancing or capital while an asset completes the operational, financial or seasoning requirements needed for long-term FHA/HUD execution. The structure can preserve financing continuity by giving a borrower additional time to prepare for permanent financing rather than requiring an immediate HUD closing.
In this case, Greystone said its familiarity with the portfolio and its operating history informed how the refinancing was structured.
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.
Outlook
With the bridge loan in place, the California healthcare portfolio is expected to advance toward HUD-insured permanent financing through Greystone.