KeyBank Arranges Financing for Foundations Health Solutions

KeyBank Real Estate Capital secured an $11 million HUD loan for Foundations Health Solutions to pay down acquisition debt it used to buy a 150-bed skilled nursing facility in Columbus, Ohio. KeyBank had provided the original $87.5 million bridge loan, which supported the acquisition of this Columbus facility plus eight other facilities previously owned by […]

Northwind Group and KeyBank Finance Peace Capital Acquisition

Peace Capital and its affiliated operator Complete Care Management acquired a senior care portfolio number some 930 beds in Ocean County, New Jersey, for approximately $169 million, or about $181,700 per bed. The financing for the deal came from a couple different sources. As part of its effort to deploy up to $1 billion into […]

Persimmon Refinances Pennsylvania Portfolio

Patrick Shearer of KeyBank Real Estate Capital’s Commercial Mortgage Group secured $28 million of HUD financing for three seniors housing communities in Pennsylvania owned by Baltimore-based Persimmon Ventures, LLC and operated by Live Cardinal. All three communities offer assisted living and memory care services. Built in 1994 in Landisville, the largest property has 135 beds […]

KeyBank Closes Second Refinance for Danbury Senior Living

KeyBank Real Estate Capital just closed its second Freddie Mac loan for Danbury Senior Living to refinance another seniors housing property Ohio. A year ago, KeyBank had worked with Danbury to arrange a $14 million refinance for its 105-unit community in Wooster. Fast forward to today, and the firm secured a $14.5 million Freddie Mac […]

Brookdale Gets Another Large Freddie Mac Financing

Brookdale Senior Living continues to make moves that put the company on surer financial footing, having just refinanced existing debt with a $111.1 million Freddie Mac loan arranged by Monique Bimler of KeyBank Real Estate Capital. Secured in two tranches of 14 cross-collateralized seniors housing properties in Arizona, Florida, Massachusetts, Maryland, Mississippi, New York, Oregon, […]

KeyBank Refinances Western New York Properties

A couple of seniors housing communities in western New York received Freddie Mac financing courtesy of KeyBank Real Estate Capital. Carolyn Nazdin of the firm’s Healthcare Group arranged two fixed-rate loans with 15-year terms and five-year interest-only periods. The first, at $45.8 million, was secured by a 162-unit community in Orchard Park. Built in 1992 […]

KeyBank Funds ReNew Acquisitions

Private REITs may have taken a significant step back from their heady M&A days around 2014 and 2015, but one private REIT has been pursuing a growth strategy lately. Founded last February by George Chapman (former CEO of Health Care REIT, now Welltower), ReNew REIT (or ReNew Investors) now has 61 seniors housing communities and […]

Genesis HealthCare Buys and Divests

As it continues to improve its capital structure and rationalize its lease exposure, Genesis HealthCare has joint ventured with Next Healthcare Capital to buy 15 skilled nursing facilities with 2,147 total beds previously leased from Welltower located in Pennsylvania (6), New Jersey (4), Connecticut (3), West Virginia and Massachusetts. Genesis will own a 46% stake […]