KeyBank Real Estate Capital secured a $53.1 million permanent loan from Fannie Mae for Singh Development, a real estate developer, for its Waltonwood Lake Boone senior living community in Raleigh, North Carolina. Built in 2018, the Class-A community comprises 181 total independent living, assisted living and memory care units. In 2019, Peter Trazzera of KeyBank originally provided a bridge loan for the community, but the new Fannie Mae financing will allow Waltonwood to recapitalize the community with a 10-year fixed rate loan and provide additional capital for future growth within their portfolio. Singh Development currently has 13 communities operating under the Waltonwood brand in Michigan, North Carolina and Virginia. Charlie Shoop of KeyBank arranged the Fannie Mae financing.
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