KeyBank Provides $334.4M Credit Facility for National Assisted Living Portfolio
- Jan 19, 2015
Chicago—KeyBank Real Estate Capital has closed a $334.4 million Fannie Mae credit facility for Enlivant, a Chicago-based owner and operator of seniors care facilities across the United States.
The loan was secured by 54 assisted living properties in 12 states including Iowa, Indiana, Kentucky, Michigan, Nebraska, New Jersey, Ohio, Pennsylvania, South Carolina, Texas, Washington and Wisconsin. The new loan structure provides Enlivant with access to growth capital at attractive rates during the 10-year term.
Key’s Healthcare Mortgage Banking Team, led by Carolyn Nazdin and Charlie Shoop, worked in conjunction with Fannie Mae to originate and close the loan in fewer than 60 days.
NorthMarq Capital’s Kansas City office finalizes transactions totaling $13.34M
Kansas City, Kan—Greg Duvall, senior vice president/managing director of NorthMarq Capital’s Kansas City regional office, arranged financing of $13.34 million for Parkway Commons and Peppertree Apartments, two multifamily properties located in Lawrence, Kan.
Peppertree Apartments: This 233 unit housing property, located at 3100 West 22nd Street in Lawrence, Kan., received refinancing of $8.12 million. The transaction was structured with a 10-year term and 30-year amortization schedule. NorthMarq arranged financing for the borrower through its Seller/Servicer relationship with Freddie Mac.
Parkway Commons Apartments: This 124 unit partially student-occupied property, located at 3601 Clinton Parkway in Lawrence, Kan., received $5.25 million in acquisition financing. The transaction was structured with a seven-year term with one-year interest-only followed by a 30-year amortization schedule. NorthMarq arranged financing for the borrower through its Seller/Servicer relationship with Freddie Mac.