KEYBANK SECURES $106.7 MILLION IN FREDDIE MAC LOANS IN N.J.

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NEW JERSEY — KeyBank Real Estate Capital has secured a total of $106.7 million in Freddie Mac funds for seven senior housing properties in New Jersey. In the first deal, KeyBank originated a $100 million loan for a portfolio of six properties on behalf of a joint venture between an affiliate of The Carlyle Group and Fanwood, N.J.-based Chelsea Senior Living. The properties are located in East Brunswick, Fanwood, Manalapan, Montville, Tinton Falls and Warren. In addition, KeyBank provided a $6.75 million loan for Metuchen Senior Apartments in Metuchen. The borrower was Gary Kline. Terms of the loans were not disclosed.

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