News:
Brokerage
Posted: June 4, 2019
Nazdin of KeyBank Healthcare Group originates $65.9 million for two senior housing properties
Orchard Park, NY KeyBank Real Estate Capital has originated a total of $65.9 million in Freddie Mac financing for two senior housing properties in Western New York.
A $45.8 million first mortgage loan was secured by Orchard Heights. Built in 1992 and renovated in 2016, the 162-unit property is comprised of a two-story apartment building with 114 assisted living units, 32 independent living units and 16 memory care units.
A separate $20.1 million first mortgage loan was secured by Heather Heights of Pittsford, a seniors housing property located in Pittsford, NY. Built in 1999, the 96-unit property includes 72 assisted living units and 24 memory care units.
Carolyn Nazdin of KeyBank’s Healthcare Group arranged the fixed-rate loans with 15-year terms, five-year interest only periods and 30-year amortization schedules. Both loans were used to refinance existing debt.
Tags:
Brokerage
MORE FROM Brokerage
Woof Gang Bakery & Grooming leases at 425 Union Blvd. in West Islip
West Islip, NY Robert Raffa and Robert Monahan from Island Associates negotiated a new lease at 425 Union Blvd. The new addition to the new 20,000 s/f
Quick Hits
Columns and Thought Leadership
A fresh start - by Shallini Mehra and Amit Doshi
For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced
Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver
New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,
The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman
July 1, 2025 is the deadline for US banks to begin to adopt Basel III banking standards and July 14, 2025 is the deadline for U.S. banks to adopt ISO 20022 messaging standards. Both will have a significant effect on the banking and commercial real estate (CRE) finance sectors.
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian
There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking
