KeyBank Real Estate Capital announced that it has secured a $68.3 million permanent loan through Freddie Mac for a seniors housing property in Utah. The Woodbury Corporation, Colmena Group, and Western States Lodging are refinancing the newly constructed Legacy Village of Sugar House in Salt Lake City.
Set within the master-planned Sugar House neighborhood, the 10-story luxury senior housing property features independent living, assisted living and memory care units. There is also retail and commercial parking space, and the community offers mountain views from every residential floor. Morgin Morris of KeyBank structured the 10-year, fixed-rate loan with an initial five-year period of interest only.
