KeyBank Real Estate Capital arranged a first mortgage through Fannie Mae on behalf of a Sunrise Senior Living property in Leominster, Massachusetts. Originally built in 1996 with 48 assisted living units, the property added 23 memory care units in 1999 and converted 10 existing AL units into nine MC units in 2013. In that most […]
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 […]
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 […]
KeyBank Real Estate Capital headed back to the Bronx to take out a previous financing they had closed for a 199-bed skilled nursing facility. Built in 1994, this facility is subject to a ground lease with an unrelated third party. It was acquired a number of years ago by the borrower, Citadel Care Centers, thanks […]
Bridge loans are becoming increasingly important for acquisitions and renovations projects. Find out the details on this important webinar. If you are in the market for acquisitions, especially value-add acquisitions, or you want to do some major renovations on your existing building, do I have a financing product for you. I am talking about bridge loans, […]
KeyBank Real Estate Capital has been on a roll lately, announcing financing after financing following their successful HUD fiscal year atop the rankings. Their latest closing saw Charlie Shoop and Peter Trazzera close a $31.5 million Freddie Mac loan on behalf of Chicago Pacific Founders to refinance the original balance sheet acquisition loan (also provided […]
KeyBank Real Estate Capital is not slowing down after they claimed the top spot for HUD Lean volume in FY2018, going back to a portfolio of four skilled nursing facilities to arrange a HUD refinance. The facilities were part of a nine-SNF portfolio acquired by Foundations Health Solutions with the help of an $87.5 million […]
KeyBank Real Estate Capital arranged acquisition financing for two skilled nursing portfolios in Nevada and Texas. A joint venture between Capital Senior Ventures and BlueMountain Capital Management was the buyer in both transactions. In the larger deal, Grant Saunders and Peter Trazzera provided a $105.8 million bridge loan to fund the purchase of 12 skilled […]
There’s a new king of the HUD 232 Lean program. KeyBank Real Estate Capital unseated long-time leader Lancaster Pollard (which had topped the list since 2010 in terms of dollar volume) after closing $812.7 million in loans in FY2018, a record for single-year volume in the program and up 144% from the firm’s FY2017 volume. […]
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 […]