BLUE RIDGE, Ga. — KeyBank Real Estate Capital has provided a $12.9 million Fannie Mae first mortgage loan for Blue Ridge Assisted Living and Memory Care, a 67-unit assisted living community in Blue Ridge, located in the North Georgia Mountains.
The community was built in 2016 with 49 assisted living units and 18 memory care units. The property was sold earlier this month for $17 million. The buyer and seller were not disclosed.
The financing helped fund the acquisition, and may provide for possible expansions at the property during its 12-year term. Carolyn Nazdin of Key’s Healthcare Group arranged the financing with a four years of interest-only payments and a 30-year amortization schedule.