KeyBank Provides $19.6M in Financing for Seniors Housing Asset in Temple, Texas

by Taylor Williams

TEMPLE, TEXAS — KeyBank Real Estate Capital has provided $19.6 million in financing to Denver-based Steele Properties LLC for the acquisition and renovation of Wayman Manor Apartments, a seniors housing property located in the Central Texas city of Temple. Following the renovation, Wayman Manor, which was built in 1971, will consist of 32 one-bedroom units, 96 two-bedroom residences and 32 three-bedroom units. All units are restricted under low-income housing tax credit (LIHTC) regulations at 60 percent of the area median income. Sarah Geis of KeyBank handled the transaction.

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