KeyBank Secures Financing for 6 Senior Housing Assets

The skilled nursing facilities are spread across Vermont, New Hampshire and Rhode Island and encompass a total of 664 beds.

By Beata Lorincz

Harris Hill Center in Concord, N.H.

Harris Hill Center in Concord, N.H.

KeyBank Real Estate Capital has provided $99.8 million in FHA financing for six senior housing properties located across New Hampshire, Rhode Island and Vermont.

The senior housing portfolio comprises 664 beds and includes facilities built between 1972 and 2007. The list of properties includes:

  • Ridgewood Center Bedford in Bedford, N.H.
  • Mountain Ridge Center in Franklin, N.H.
  • Keene Center in Keene, N.H.
  • Harris Hill Center in Concord, N.H.
  • Mountain View Center in Rutland, Vt.
  • Kent Regency Center in Warwick, R.I.

John Randolph of Key’s Commercial Mortgage Group together with Laura Conway and Brandon Taseff of Key’s Healthcare Group arranged the financing through an FHA mortgage insurance program.

The loan was used to pay down an existing KeyBank bridge loan, which funded the acquisition of 28 skilled nursing facilities in 2016. A joint venture including Cindat Capital Management Ltd., Best Years LLC and Welltower Inc. acquired the properties.

Image via Google Street View

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