KeyBank Real Estate Capital originated a multi-million dollar agreement in Freddie Mac financing for a senior housing property in Rochester.
A $20.1 million first mortgage loan was secured by Heather Heights of Pittsford, a seniors housing property located in Pittsford. 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 loan with a 15-year term, five-year interest only period and 30-year amortization schedule. The loan is being used to refinance existing debt.