Nine-figure HUD financings don’t come across our desk too often, but KeyBank Real Estate Capital just provided $105 million to refinance a 10-property portfolio on behalf of Trilogy Property Holdings. Located in Ohio, Kentucky, Indiana and Michigan, the portfolio totals 1,078 skilled nursing and assisted living beds that were built between 2000 and 2014.
John Randolph, Laura Conway and Jonathan Slusher led the way on the transaction, which was used to pay down portions of two separate KeyBank-led syndicated credit facilities. The first facility is a term loan that funded the acquisition of nine healthcare facilities, while the second is a senior-secured revolving credit facility secured by multiple Trilogy-owned properties.
