March 7, 2018 Comments Off on VestraCare Buys Upstate SNF Views: 2334 Tri-State Area New York

VestraCare Buys Upstate SNF

New York-based VestraCare has acquired James Square Health and Rehabilitation Center, a 440-bed skilled nursing facility in Syracuse, NY. The facility has been renamed Bishop Rehabilitation and Nursing Center.

Arbor Realty Trust’s Alexander Kaushansky originated a $41.65-million bridge loan on VestraCare’s behalf. Evan Goldenberg of EBEX Holdings provided assistance to all parties involved, and Ari Dobkin, managing director at Meridian Capital Group, represented VestraCare to Arbor.

In other news, Arbor announced the appointment of Frank Lutz as EVP, chief production officer. He’ll oversee all of Arbor’s agency lending platforms in terms of business development, as well as Arbor’s national production network and originations team.

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