Chicago-based owner and operator Enlivant (formerly Assisted Living Concepts) this week closed a $334.4 million Fannie Mae credit facility from KeyBank Real Estate Capital for a national portfolio of senior living communities.
The loan was secured by 54 assisted living properties across 12 states, including Iowa, Indiana, Kentucky, Michigan, Nebraska, New Jersey, Ohio, Pennsylvania, South Carolina Texas, Washington and Wisconsin.
The new loan structure provides Enlivant with access to growth capital at attractive rates during the 10-year term, according to a release from KeyBank.
KeyBank’s Healthcare Mortgage Banking Team, led by Carolyn Nazdin and Charlie Shoop, worked in conjunction with Fannie Mae to originate and close the loan in less than 60 days.
Written by Jason Oliva