KeyBank Provides $67.2M HUD Financing for Skilled Nursing Portfolio in West Virginia

MARMET, SISSONVILLE and PARKERSBURG, W.V. — KeyBank Real Estate Capital has provided a total of $67.2 million in financing for a three-property skilled nursing portfolio in West Virginia.

The portfolio totals 306 beds and includes Marmet Center in Marmet, Cedar Ridge Center in Sissonville and Willows Center in Parkersburg. A joint venture between Cindat Capital Management, Best Years LLC and Welltower recently acquired the properties, which were built between 1979 and 1986.

Proceeds of the HUD financing were used to pay down a portion of an existing KeyBank syndicated bridge loan that funded the acquisition. The financing team consisted of John Randolph from Key’s Commercial Mortgage Group and Laura Conway and Brandon Taseff from Key’s Healthcare Group.