PAOLI, Pa. — KeyBank Real Estate Capital has arranged a $28.5 million Freddie Mac floating-rate mortgage loan for Daylesford Crossing in Paoli, approximately 16 miles northwest of Philadelphia.
The Class A seniors housing facility was built in 2015 featuring 64 assisted living units and 14 memory care units. The property also contains a commercial space currently occupied by Ciao Bella Salon and Spa Inc.
Carolyn Nazdin of Key’s Healthcare Group arranged the financing with a seven-year term, three years of interest-only payments and a 30-year amortization schedule. The permanent loan refinanced an existing KeyBank construction loan arranged in 2014 by Grant Saunders.