Recapitalizing with KeyBank

Grant Saunders, Sarah Belmont and Charlie Shoop of KeyBank Real Estate Capital all went to work to recapitalize a portfolio of eight seniors housing and care properties owned by Sentio Healthcare Properties, Inc. First, Saunders and Belmont helped the Orlando-based public, non-traded REIT refinance five of its properties, located in Texas, Florida, New Jersey and Louisiana, with a $62 million balance sheet term loan from KeyBank. Those properties are a combination of independent living, assisted living, memory care and skilled nursing facilities. As for the three remaining properties (assisted living and memory care communities) located in Ohio, Maryland and Florida, Mr. Shoop arranged $54.6 million in Fannie Mae financing, closing it simultaneously with the term loan.


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