ReNeW Seniors Housing Portfolio
|Deal Type||Fannie Mae|
|Size||$145 Million||Our Role||Lender|
KeyBank Real Estate Capital (KBREC) teamed with Fannie Mae to provide acquisition financing to an affiliate of ReNew REIT through a $145 million credit facility, which is secured by eight seniors housing communities with diversified locations in eight states. The initial $145 million draw on the credit facility includes a 10-year term and provides expansion and borrowing features that allow ReNew to access additional financing proceeds through the existing collateral pool or by adding new properties to the pool.
KeyBank established a corporate lending relationship with ReNew in 2018, acting as lead arranger and administrative agent for the company’s inaugural $100 million corporate credit facility, which was subsequently increased to $150 million in December 2018.