New Senior Independent Living Portfolio
|Deal Type||Freddie Mac|
|Size||$270 Million||Our Role||Lender|
KeyBank Real Estate Capital (KBREC) arranged a new $270 million Freddie Mac loan to New York-based New Senior Investment Group, Inc. The 10-year loan is secured by 14 independent living assets and provides New Senior with a lower spread and extended maturity compared to the company’s previous financing. The Freddie Mac financing is part of New Senior’s strategic transaction that included the sale of its entire assisted living portfolio, which included an amendment and restatement of the company’s $125 million credit facility led by KBREC. KeyBank extended the term of the credit facility and lowered pricing substantially.