KeyBank Provides $68.3M Refinancing for Seniors Housing Property in Salt Lake City

by Jeff Shaw

SALT LAKE CITY — KeyBank Real Estate Capital has arranged a $68.3 million permanent loan through Freddie Mac for The Woodbury Corp., Colmena Group and Western States Lodging. The loan refinances existing debt on Legacy Village of Sugar House, a seniors housing property in Salt Lake City.

The 10-story Legacy Village of Sugar House features independent living, assisted living and memory care units. The property also offers retail space, parking and commercial space.

Morgin Morris of KeyBank structured the 10-year, fixed-rate loan with an initial five years of interest-only payments. The property is within the master-planned Sugar House neighborhood of Salt Lake City.

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