KeyBank Real Estate Capital Refinances Two Pennsylvania Properties
A large regional owner/operator in the Northeast refinanced two of its senior care facilities through HUD, with the help of John Randolph of KeyBank Real Estate Capital. Located in Pennsylvania, the properties include a 180-bed skilled nursing facility and a 120-bed skilled nursing facility, the latter of which also features a 73-bed independent/assisted living wing. Mr. Randolph arranged $57.7 million in HUD financing to pay down a portion of an existing bridge loan, originally secured by KeyBank’s Henry Alonso and Brandon Taseff, that was used to fund the initial acquisition, and subsequent recapitalization, of a portfolio of healthcare facilities located in the Northeast. Read More »
KeyBank Refinances Portion of Welltower/Chinese Deal
Welltower’s sale of a 75% ownership interest in a 39-property senior care portfolio to Chinese firms Cindat Capital Management and Union Life Insurance Co, Ltd. is back in the news, with KeyBank Real Estate Capital refinancing a portion of the original acquisition financing. In what was the fourth-largest long-term care transaction (by purchase price) of 2016, at $930 million, the Chinese joint venture took over ownership of 11 seniors housing communities master leased to Brookdale Senior Living and 28 skilled nursing/post-acute care facilities leased to Genesis Healthcare. Welltower retained a 25% interest in the portfolio, and both operators stayed on to manage. KeyBank originally... Read More »
KeyBank Finances Luxury Independent Living Development
A new independent living community is going up on the Princeton University Healthcare campus, with the help of construction financing arranged by Grant Saunders, Peter Trazzera and Jake Hollinger of KeyBank Real Estate Capital’s Healthcare Group. Featuring 260 total units, including 15 studios, 145 one-bedrooms and 100 two-bedrooms, the project is being developed by SBLP Senior Living Fund I, a fund that invests in the development of seniors housing projects. A joint venture between South Bay Partners, a Dallas-based seniors housing developer, and LAMB Properties, a real estate investment vehicle owned by the Bluhm family, sponsors the fund. Upon completion, Sage Senior Living will take... Read More »KeyBank, Kindred and BlueMountain
BlueMountain Capital Management has been steadily working to close its large acquisition of 96 skilled nursing facilities from Kindred Healthcare (a deal valued at approximately $700 million). For its latest tranche of closings, the firm received $128 million in acquisition financing originated by Grant Saunders and Peter Trazzera of KeyBank Real Estate Capital’s Healthcare Mortgage Group. The term loan funded the purchase of 13 facilities including nine in California, three in Massachusetts (that are nearing approval) and one in Nashua, New Hampshire. Of the California facilities, five are located in San Francisco, plus one each in Salinas, Stockton, Walnut Creek and Livermore. This marks... Read More »Schedule a demo
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