Troubled Rosewood Facilities Bought Up by For-Profit Lender
Greystone is the New York-based real estate, investment, and consulting firm set to take ownership over a chain of troubled Chicago-area elder care facilities currently branded under the name of Rosewood. The federal government has been in charge of Rosewood nursing homes after the previous owners defaulted on $146 million in mortgage loans, the largest default in the history of the government mortgage insurance program that provides financial support to 15 percent of the nation’s nursing homes. The previous owners, including Chicago-area rabbi, Zvi Feiner, were found guilty of improperly diverting millions
Continue Reading HUD Lender Buys Chicago Nursing Home Chain















