KeyBank Provides $48.2M for Florida Skilled Nursing Facilities

by John Nelson

CLEVELAND — KeyBank Real Estate Capital has provided $48.2 million in long-term financing for a portfolio of four skilled nursing facilities totaling 493 beds in Florida. The four properties include Lehigh Acres Health & Rehabilitation Center in Lehigh Acres, Village Place Health & Rehabilitation Center in Port Charlotte, Lexington Health & Rehabilitation Center in St. Petersburg and Sunset Lake Health & Rehabilitation Center in Venice. Greystone Healthcare Management Corp. manages all four assets. Craig Gulley and Wayne Horvath of KeyBank arranged three 35-year FHA loans for three of the properties and a 33-year FHA loan for the fourth property. The loan proceeds were used to pay off term loans held with other lenders.

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