KeyBank Arranges $67.3M Construction Loan for 260-Unit Independent Living Community in New Jersey

by Jeff Shaw

PLAINSBORO TOWNSHIP, N.J. — KeyBank Real Estate Capital has arranged a $67.3 million construction loan for a 260-unit independent living community located on the Princeton University Healthcare Campus in Plainsboro Township.

A joint venture led by SBLP Senior Living Fund I owns the property. The sponsor of the fund is a joint venture between South Bay Partners and LAMB Properties.

Sage Senior Living will manage the property. Grant Saunders, Peter Trazzera and Jake Hollinger of Key’s Healthcare Group arranged the financing.

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