CLEVELAND — KeyBank Real Estate Capital has arranged a $291 million Freddie Mac loan for the acquisition of a 17-property seniors housing portfolio.
The borrowers are investment funds managed by affiliates of Apollo Global Management LLC (NYSE:APO). The Freddie Mac loan provides variable-rate financing along with flexible prepayment provisions for the funds.
Upon closing of the acquisition, Oregon-based Eclipse Senior Living will provide day-to-day management for the 2,193-unit portfolio. The specific names and locations of the communities were not disclosed.
Charlie Shoop led the financing team on behalf of KeyBank, in conjunction with Tim Sylvain and Brandon Taseff of KeyBank’s Institutional Real Estate Group.