Highgate at Prescott

Overview

Deal Type Agency Lending
Size $10.7 Million
Fannie Mae Fixed Rate Loan

Summary

The transaction includes a $10.7 million ($127,381/unit) non-recourse, first mortgage loan secured by an 84-unit assisted living and memory care community known as Highgate at Prescott, located in Prescott, Arizona. Built in 2010, the property comprises one, three-story building consisting of 84 operating units and four shared memory units, for a total of 88 beds. The license allows 97 units (38 directed memory care and 59 assisted living or personal care). The property is situated on 2.77 acres of land. The proposed loan will be used to refinance the existing debt of the property. The loan is structured with a five-year term and amortizes on a 30-year schedule.

KBREC page disclosure

Banking products and services are offered by KeyBank National Association. All credit products are subject to collateral and/or credit approval, terms, conditions, and availability and subject to change.

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