KeyBank Secures $192.5M Refinancing for Seniors Housing Portfolio in Texas
This image shows one of Kayne Anderson's seniors housing properties in Melbourne, Fla. KeyBank secured $192.5 million for the refinancing of six of the company's properties in Texas.
CLEVELAND — Cleveland-based KeyBank Real Estate Capital has provided $192.5 million in refinancing for a portfolio of six seniors housing properties located throughout Texas. The properties were all built between 2006 and 2008 and total 1,238 units. Charlie Shoop and Caleb Marten of KeyBank structured the Freddie Mac loans, which included 10-year interest-only terms and were used to refinance an existing bridge loan provided by KeyBank. The funds were secured on behalf of the borrower, healthcare and seniors housing investment firm Kayne Anderson Real Estate Advisors.