KeyBank Provides $31.5M Freddie Mac Refinancing for Chicago Pacific Founders

TOPSHAM, Maine — KeyBank Real Estate Capital has provided a $31.5 million Freddie Mac loan for Chicago Pacific Founders and its affiliate CPF Living Communities. 

The funds will be used to refinance existing debt on Highlands Retirement Community, a seniors housing property located in Topsham, approximately 25 miles northeast of Portland. KeyBank also provided the original loan, which was for the property’s acquisition.

Located on a 90-acre campus, the community features 176 units of independent living, assisted living and memory care. 

The financing represents the latest in a series of seniors housing agency originations between KeyBank and CPF Living, which includes over $100 million in new loan originations spread across five separate transactions in 2018. 

Charlie Shoop of KeyBank’s Commercial Mortgage Group led the financing team for the subject financing in conjunction with Peter Trazzera of KeyBank’s Institutional Healthcare Real Estate Group.