DEAL OF THE DAY: KeyBank Provides $106M in Seniors Housing Financing in New Jersey
East Brunswick, N.J.--KeyBank Real Estate Capital provided $106.7 million in Freddie Mac funding for seven assisted living and age-restricted communities in New Jersey.
East Brunswick, N.J.–KeyBank Real Estate Capital provided $106.7 million in Freddie Mac funding for seven assisted living and age-restricted communities in New Jersey.
Key originated a $100 million Freddie Mac loan on six properties on behalf of a joint venture partnership between an affiliate of The Carlyle Group and Chelsea Senior Living, a regional seniors housing owner-operator based in Fanwood, N.J. The assisted living and memory care properties are located in East Brunswick, Fanwood, Manalapan, Montville, Tinton Falls and Warren, N.J.
In addition, Key provided $6.75 million in Freddie Mac financing to Gary Kline for the Metuchen Senior Apartments, located in Metuchen, N.J. Â
Key has significant experience working with Freddie Mac throughout the country and was able to secure favorable loan terms for both transactions.