NEW HAMPSHIRE, RHODE ISLAND and VERMONT — KeyBank Real Estate Capital has provided a total of $99.8 million in FHA financing for a six-property seniors housing portfolio located across New Hampshire, Rhode Island and Vermont.
The skilled nursing facilities total 664 beds and were built between 1972 and 2007. The properties include: 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.; and Kent Regency Center in Warwick, R.I.
John Randolph of Key’s Commercial Mortgage Group along with Laura Conway and Brandon Taseff from Key’s Healthcare Group, arranged the financing through the FHA 232/223(f) mortgage insurance program. The loan proceeds were used to pay down an existing KeyBank bridge loan, which funded the acquisition of 28 skilled nursing facilities in 2016. A joint venture between Cindat Capital Management Ltd., Best Years LLC and Welltower Inc. acquired the properties.