BMO Harris Provides $18M Loan for 100-Unit Community in Minnesota

HUGO, Minn. — BMO Harris Healthcare Real Estate Finance was sole lender for an $18 million loan to Hugo Senior Housing LLC, an affiliate of Keystone Senior LLC.

The term loan provides financing for a 100-unit independent living, assisted living, and memory care community in Hugo, just north of Minneapolis-St. Paul. Although the specific property was not disclosed, Keystone’s only community in Hugo is Keystone Place at LaValle Fields.

The use of the funds was not disclosed.

Keystone Senior was formed in 1996. Along with its affiliates, the company owns, operates, and manages eight senior living communities throughout the United States.