65
MIDLAND AND AMARILLO, TEXAS — Keybank Real Estate Capital has arranged approximately $8.5 million in Freddie Mac funds for the refinancing of two Texas senior housing communities owned by Emeritus Senior Living. Approximately $6.4 million will go toward the refinancing of Emeritus at Saddleridge Lodge in Midland, and $2.1 million will go toward the refinancing of Emeritus at Seville Estate in Amarillo. The fixed-to-float funding will be used by Emeritus to refinance balance-sheet debt into long-term, fixed-rate debt. As part of the transaction, Keybank also helped Emeritus refinance a third senior housing property located in Ontario, Ore.