In one of the larger financings seen so far this year, KeyBank Real Estate Capital recently provided a total of $202.1 million in Freddie Mac loans to refinance a portfolio of five independent living communities in Texas. Owned by a joint venture between Kayne Anderson Real Estate Advisors and Discovery Senior Living (which purchased it in 2014 for approximately $290 million, or $276,000 per unit), the “Conservatory Senior Living” portfolio totals 1,053 units, built between 2005 and 2007. Charlie Shoop and Carolyn Nazdin of Key’s Healthcare Mortgage Group, together with Pail DiVito of the Healthcare Real Estate Group, arranged non-recourse, 10-year adjustable rate financing to refinance an existing loan.