KENTUCKY — KeyBank Real Estate Capital has provided $38.9 million through the FHA 232/223(f) mortgage insurance program to GMF Capital. The financing will refinance five skilled nursing facilities located throughout the state of Kentucky.
The properties — Magnolia Village, Heartland Villa Center, Edmonson Center, Colonial Center and Bradford Square — total 339 beds.
The non-recourse, first-mortgage financing was arranged with fully amortizing loan terms ranging from 30 to 35 years. The new FHA-insured loans refinance an existing KeyBank loan that funded GMF Capital’s acquisition of the properties.