KeyBank Provides $53.1M Agency Loan for Waltonwood Lake Boone in Raleigh

RALEIGH, N.C. — KeyBank Real Estate Capital has provided a $53.1 million Fannie Mae loan from Fannie Mae for Waltonwood Lake Boone, a 181-unit seniors housing community in Raleigh.

The property offers independent living, assisted living and memory care units.

Charlie Shoop of KeyBank arranged the 10-year, fixed-rate loan on behalf of the borrower, Singh Development, a real estate developer with offices in Raleigh and West Bloomfield, Mich. The financing recapitalizes a loan that KeyBank’s Healthcare Group originated in 2019, a year after Waltonwood Lake Boone opened.