Greystone Nursing Homes, Whose Executives Gave $800,000 to Trump, Are Epicenters of COVID-19 Deaths

IN AUGUST OF 2018, the Department of Housing and Urban Development faced the biggest default in its history. Rosewood Homes, which operated a chain of nursing homes in Illinois, defaulted on a $146 million mortgage that was backed by HUD. The Greystone-backed owner had to pay over $3 million in fines to HUD and the Securities and Exchange Commission for failing to file financial statements and defrauding investors. The mortgage on the homes had been serviced by Greystone, the No. 1 lender in HUD-backed nursing homes.

Then HUD took them over and spent $30 million maintaining and upgrading the facilities, and appointed a receiver to administer the homes. When the homes were ready to go back on the market, the buyer was Greystone, which had already managed over 30 nursing homes in Florida. HUD has refused to disclose the asking price, according to the New York Times.