KeyBank Provides $12.9M in FHA Financing for Seniors Housing Property in Connecticut

NEW HAVEN, Conn. — KeyBank Real Estate Capital has provided $12.9 million in FHA financing to the Jewish Federation of Greater New Haven for Tower One & Tower East, a seniors housing property in New Haven.

Built in 1969 and 1981, the apartment complex features 328 age- and incomed-restricted units. Ed Foulon of Key’s Commercial Mortgage Group arranged the financing, which features a 35-year amortization schedule, through the FHA 223(f) mortgage insurance program. Loan proceeds were used to refinance existing debt.

The Jewish Federation of Greater New Haven is a non-profit, faith-based, service-oriented organization that provides continuing care and affordable housing to seniors.

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