REBusinessOnline

KeyBank Provides $202.1M Loan for Texas-based Independent Living Portfolio

TEXAS — KeyBank Real Estate Capital provided $202.1 million in Freddie Mac financing to a joint venture between Kayne Anderson Real Estate Advisors and Discovery Senior Living for their Conservatory Senior Living portfolio, a five-property independent living portfolio located in Texas. Totaling 1,053 units, the Class A seniors housing communities were all built between 2005-2007 and house between 188-237 units each. Charlie Shoop and Carolyn Nazdin of Key’s Healthcare Mortgage Group worked in conjunction with Paul DiVito of Key’s Healthcare Real Estate Group to arrange the non-recourse, 10-year, adjustable rate financing, which was used to refinance an existing loan.

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