Non-Profit Banking Solutions

KeyBank Community Development Lending & Investment provided capital for the new construction of The Queen Senior apartments, a 49-unit senior affordable housing project in Philadelphia, Pennsylvania. 49 units will serve senior citizens earning no more than 20%-50% the AMI (Area Median Income). Supportive services will be offered to residents and will include health and wellness programs, lifeline services, social services, and counseling. We want to thank The Queen Senior LLC for their sponsorship and shared mission to build much-needed affordable housing in Pennsylvania.

The financing includes a construction loan arranged by Seaver Rickert.

KeyBank Community Development Lending & Investment provided capital for the new construction of The Medow on Seneca, a 70-unit affordable housing project in Ithaca, New York. 70 units will serve families and individuals earning no more than 30%-80% the AMI (Area Median Income). The project includes 35 supportive housing units consisting of 25 units supported by the Empire State Supportive Housing Initiative (ESSHI) and 10 units supported through the New York State Office of Mental Health Supportive Housing Single Room Occupancy (OMH SP-SRO) program. Supportive services will be provided by Rehabilitation Support Services, Inc. (RSS) and will include case management, crisis response, living skill support, behavioral-health coordination employment readiness, and safety planning for domestic violence survivors. We want to thank Rehabilitation Support Services for their sponsorship and shared mission to build much-needed affordable housing in New York.

The financing includes a $14.8 million construction loan arranged by Seaver Rickert.

The transaction includes a $54 million ($181,324/unit) non-recourse, first mortgage loan secured by a 298-unit, garden-style apartment known as Lakeview at Westpark, located in Richmond, Texas. Lakeview at Westpark consists of six three-split-story buildings and a one-story community building (5,820 square feet) for a total of seven (7) buildings. The property was built in 2021 and is situated on 11.02 acres of land. The proposed loan will be used to refinance the existing debt of the property. The loan is structured with a 35-year term and amortizes on a 35-year schedule.

On April 14, 2026, KeyBanc Capital Markets and Key Government Finance successfully closed $80 million of Senior Secured Credit Facilities for Redding Rancheria. The proceeds, in conjunction with equity contributions, will support the construction and development of the new Redding Rancheria Health Village.

This transaction represents Key’s second financing for Redding Rancheria and the second financing for the Native American Financial Services team secured solely by healthcare revenues. Key was selected to serve as Sole Lender and Structuring Agent due to its extensive experience financing Native American construction projects and deep-rooted relationship with Redding Rancheria.

Redding Rancheria
Redding Rancheria is a federally recognized Tribe with Pit River, Wintu and Yana people and an established leader in the constructive development of its people, the larger Indian community and the Redding Region. Redding prides itself on tribal culture, history and identity by investing in its youth and adults to create a future with the strength of the ancestral lineage. Redding’s government and reservation is in the southwest area of Redding, California, where it operates various governmental services and provides healthcare to over 12,000 Native and non-Native citizens.

Redding Rancheria Health Village
In 1991, Redding operated a small facility to provide medical, behavioral and dental health services to Native Americans, which expanded into the 12,000-square-foot Churn Creek Road Facility. In 2012, Redding acquired their 33,000-square-foot Liberty Street Facility and expanded the operation of each program, and in 2022, constructed the 18,000-square-foot Trinity Health Center. In 2024, Redding opened its Center for Advanced Care, broadening access to specialty-driven services for its expanding patient base.

The Redding Rancheria Health System has evolved and expanded over the course of three decades to service both Native and non-Native populations, with a focus on the large and underserved Medicare and Medi-Cal population. The new visionary Health Village, opening in early 2027, will span 185,000 square feet and provide comprehensive, culturally centered health care, with a focus on holistic wellness. Eleven primary care providers and seven medical specialists will serve over 22,000 patients and enhance health and wellness care for the region.

On April 13, 2026, KeyBanc Capital Markets served as Joint Bookrunner on a $600 million Senior Notes offering for Caturus Energy, LLC. Proceeds will be used to partially fund the acquisition of Galvan Ranch assets from SM Energy Company and for general corporate purposes.

KeyBank successfully closed a $25 million Term Loan and $5 million Revolving Line of Credit for Moosilauke Visions, Inc. and its subsidiaries. Proceeds from the facilities were used for the acquisition of five behavioral health programs across the Western and Southeastern U.S. and to support ongoing working capital needs of the borrowing group. Key acted as Sole Lender on the transaction. Full primacy, including operating deposits and core payments, was also provided. 

Moosilauke Visions, Inc. (MVI) is a Maine‑based 501(c)(3) nonprofit that serves as a strategic parent and shared‑services platform for a portfolio of mission‑driven organizations across human services, behavioral health, education, wellness, and related community‑based sectors, providing centralized financial, operational, and governance support while enabling independent operations and sustainable growth.

Cain Brothers, a division of KeyBanc Capital Markets, acted as Exclusive Financial Advisor to Blue Cross and Blue Shield of Kansas City on its affiliation with Highmark, Inc.

Blue KC engaged Cain Brothers to identify a partner to help achieve efficiencies, add new capabilities and drive more affordable health care. Blue KC will maintain its local leadership, brand and commitment to accessible, affordable health care, while gaining access to Highmark’s scale, diversified businesses and leading technology capabilities. Cain Brothers is the leading advisor to Blue Cross and Blue Shield plans and this represents another significant affiliation within the sector.

Serving members since 1938, Blue Cross and Blue Shield of Kansas City is the largest not-for-profit health insurer in Missouri and the only not-for-profit commercial health insurer in Kansas City. Blue KC provides coverage to more than one million residents in the greater Kansas City area, with a mission to provide affordable access to healthcare and to improve the health of its members.

An independent licensee, Highmark, together with its affiliates, is the fifth-largest Blue Cross Blue Shield-affiliated organization in the country, with more than seven million members in Pennsylvania, Delaware, West Virginia and western and northeastern New York. Its diversified businesses serve group customer and individual needs across the U.S.

KeyBank Community Development Lending & Investment provided capital for the rehabilitation of Wallkill Living Center, a 136-unit senior affordable housing project in Middletown, New York. 136 units will serve senior citizens earning no more than 50%-80% the Area Median Income (AMI). Supportive services will be offered to residents and will include transportation coordination, grocery/pharmacy delivery, on-site hairdressing and dry cleaning, visiting physicians, and recreational classes and activities. We want to thank Lincoln Avenue Capital for their sponsorship and shared mission to build much-needed affordable housing in New York.

The financing includes an equity bridge loan arranged by Kelly Frank and LIHTC equity arranged by Kortney Brown.

KeyBank Community Development Lending & Investment provided capital for the new construction of Palm Villas at Red Bluff, a 61-unit affordable housing project in Red Bluff, California. 61 units will serve families and individuals earning no more than 30%-60% the Area Median Income (AMI). 10 units will be set aside for permanent supportive housing (PSH) for those with a serious mental illness that are homeless or at risk of homelessness. Supportive services for these residents will be provided by Tehama County Health Services Agency and will include access to different centers providing behavioral services, medical clinics, public health services, and substance use recovery. We want to thank Palm Communities LLC for their sponsorship and shared mission to build much-needed affordable housing in California.

The financing includes a $29 million construction loan arranged by Andrea de la Fuente and a $3.7 million permanent loan arranged by Hector Zuniga.

On March 30, 2026, KeyBanc Capital Markets served as Joint Bookrunner on Forgent Power Solutions, Inc.’s (Forgent) $1 billion Follow-On Offering of 34,500,000 shares, including overallotment.

Forgent is a provider of engineered protection and control equipment used in data centers, the power grid, and energy-intensive industrial facilities. Major product categories of electrical distribution equipment that Forgent sells include electrical houses, substation enclosures, generator connection cabinets, power skids, automatic transfer switches, dry type transformers, remote power panels, switchboards, and switchgear.

The transaction includes a $7.1 million ($69/square foot) non-recourse, first mortgage loan secured by a 126,000-square-foot(102,591-square-foot NRA), 704-unit self-storage facility known as ModBox Storage - Piedmont, located in Piedmont, South Carolina. Piedmont is part of the greater Greenville metro area, located 17 miles west of the Greenville CBD. The loan is structured with a five-year term, and subsequent to a five-year interest-only period.

On March 26, 2026, KeyBanc Capital Markets (KBCM) successfully advised Terminus Capital Partners (TCP), a growth-oriented private equity firm focused on B2B software companies, on its majority investment in Andesa Services (Andesa), a leading provider of software solutions supporting policy lifecycle administration of insurance and annuity products in the Advanced Markets space. KBCM was retained as the Exclusive Buy-Side Advisor due to its strong M&A capabilities, as well as its close relationship with TCP, and deep domain expertise in Insurance Technology.

Andesa Services is a leading provider of policy and plan administration solutions in the Advanced Markets space, including policy transaction management and NQDC recordkeeping. These solutions simplify the ongoing administration of complex life insurance and annuity products in BOLI, COLI, ICOLI, and Private Placement. By utilizing market and product expertise, configurable capabilities for complex products, and security and reliability at scale, Andesa improves speed to market and empowers carriers and brokers to serve high-value markets confidently. 

Terminus Capital Partners is a private equity firm focused on business software companies, founded in 2017 and based in Atlanta. Differentiated by its industry expertise, sourcing engine, operations approach, and buy-and-build methodology, TCP strives to be the premier partner for capital providers, bankers, and management teams in the enterprise software sector.