KeyBank Arranges Fannie Mae Refinance in North Carolina

A high-end assisted living community located halfway between Greensboro and Durham, North Carolina just refinanced with the help of Charlie Shoop of KeyBank Real Estate Capital. Built in 2014, the one-story community features 65 units of assisted living and memory care on a roughly eight-acre plot in the town of Mebane, and was well occupied.

It is operated by Ridge Care, which has a portfolio that includes 11 other communities in North Carolina and one in West Virginia. To refinance existing debt, Ridge Care received a $15.5 million fixed-rate Fannie Mae loan, with a 10-year term subsequent to a two-year interest-only period.

 

 

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