KeyBank Negotiates $57.7M in FHA Financing for Two Communities in Pennsylvania

by Jeff Shaw

PENNSYLVANIA — KeyBank Real Estate Capital has arranged a total of $57.7 million in FHA financing for two undisclosed seniors housing communities in Pennsylvania.

The borrower is a large regional owner and operator of healthcare facilities in the Northeastern United States.

The properties include a 180-bed skilled nursing facility, and a 120-bed skilled nursing facility that also has a 73-bed assisted living/independent living wing.

John Randolph of Key’s Commercial Mortgage Group arranged the permanent financing through the FHA 232/223(f) mortgage insurance program. Henry Alonso and Brandon Taseff of Key’s Healthcare Group structured the original bridge loan for the sponsor.

The FHA refinance loan proceeds were used to pay down a portion of the existing KeyBank bridge loan that funded the initial acquisition, and subsequent recapitalization, of a pool of healthcare facilities located in the Northeastern United States.

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