KeyBank Provides $44.5M HUD Financing for Skilled Nursing Portfolio in Texas

CORPUS CHRISTI, BASTROP and SAN ANTONIO, Texas — KeyBank Real Estate Capital has secured $44.5 million in HUD financing for a three-property skilled nursing portfolio located throughout Texas.

The financing includes $16 million for the Regency-Windsor Calallen in Corpus Christi; $14.5 million for the Regency-Bastrop Nursing & Rehabilitation Center in Bastrop; and $14 million for the Regency-Windsor Mission Oaks Nursing & Rehabilitation Center in San Antonio. All three properties are one-story skilled nursing facilities.

Built in 2015, the Regency-Windsor Calallen features 60 semi-private rooms with 120 beds and a 112-space parking lot. The Regency-Bastrop, built in 2009 and renovated in 2018, features 60 units with 120 beds. Built in 1975 and renovated in 2013, the Regency-Windsor Mission Oaks features 69 units with 138 beds.

The financing for the three properties was closed using the U.S. Department of Housing and Urban Development’s 232/223(f) mortgage insurance program and paid off an acquisition loan structured by KeyBank’s Healthcare Group. The deal team consisted of Grant Saunders and Peter Trazzera from KeyBank’s Healthcare Group and John Randolph of KeyBank’s FHA Healthcare team.