» Greystone leads HUD volume for FY 2022
Greystone, national commercial real estate finance firm, ranked No. 1 based on dollar volume of multifamily and healthcare commitments issued by the US Department of Housing and Urban Development in fiscal year 2022. The firm originated and obtained commitments for 177 multifamily and healthcare facility HUD-insured loans totaling $3.6 billion, representing 14.2% overall market share. Greystone ranked highest based on dollar volume under the healthcare LEAN program, with $676 million in origination for 46 healthcare properties, which include assisted living communities and nursing homes.
» Great Elm Capital, Berkadia launch joint venture healthcare financing group
Great Elm Capital Corp. and an affiliate of Berkadia Commercial Mortgage will form Great Elm Healthcare Finance in a joint venture to provide venture capital to companies focused on skilled nursing facilities and senior living communities as well as acute care facilities and specialty pharmacies, the companies announced.
Berkadia, according to GECC, will be a strategic minority partner in the joint venture.
Headquartered in Nashville, TN, GEHF will be led by Michael Gervais as CEO, Ray Zilke as vice president of portfolio and Chad Kerr as vice president of credit, along with a management team with “substantial” expertise in healthcare real estate.
GEHF also will be supported by Great Elm Specialty Finance’s existing infrastructure, according to the announcement.
» Medicare Advantage premiums to decline by almost 8%
Consumer groups applauded the Centers for Medicare & Medicaid Services for lowering Medicare Advantage plan premiums. Beneficiaries will see the projected average premium for MA plans decrease almost 8%, from $19.52 in 2022 to $18 per month next year. The announcement came before open enrollment, which runs from Oct. 15 to Dec. 7. CMS projects that enrollment will reach 31.8 million people in 2023.
The news followed warnings from LeadingAge, which told McKnight’s that provider pressure to accept low-ball contracts with Medicare Advantage plans would force some organizations into “a death spiral.”
