TODAY’S DEALS: KeyBank Real Estate Capital Closes $53.7M Loan for Four New England Seniors Housing Properties, and Other Transactions
- Dec 15, 2008
By Anuradha Kher, Online News Editor Boston, Durham, N.H. and Bennington, Vt.–KeyBank Real Estate Capital recently provided a $53.7 million loan to Capital Health Group for four seniors housing properties in the Northeast.KeyBank provided $24.8 million through Fannie Mae’s DMBS product for two Boston-area properties, including Forge Hill Senior Living and The Inn at Robbins Brook. Both will use the funds to refinance existing debt. Two additional properties received the remainder of the funds through Key’s balance sheet. They include The Inn at Spruce Wood in Durham, N.H. and Village at Fillmore Pond in Bennington, Vt.Love Funding Secures Two Loans Totaling $24.7M Tallahassee and Tarpon Springs, Fla.–Mortgage-banking firm Love Funding recently secured two loans, totaling $24.7 million, for two assisted living facilities located in Florida. The 120-unit Heritage Oaks Senior Housing facility, located in Tallahassee, Fla., received $17 million. The deal included a 4.63 percent interest rate at closing. Love Funding also closed a $7.7 million loan for The Allegro at East Lake, a 92-unit assisted living facility located in Tarpon Springs, Fla. Terms included a 5.19 percent interest rate at closing. Both loans were insured through the Freddie Mac loan program and included a seven-year term and 30-year amortization. Arbor Closes over $4M Fannie Mae DUS MAH LoanProvo, Utah–Arbor Commercial Funding LLC recently closed funding of a $4,822,400 loan under the Fannie Mae DUS MAH product line to finance the 115-unit complex known as Lookout Pointe in Provo, Utah.The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.44 percent.