San Antonio, TX - KeyBank Real Estate Capital recently closed on a $32.5 million, 10-year variable rate Fannie Mae loan to a joint venture between Harrison Street Real Estate Partners IV and Franklin Companies that was used to acquire Franklin Park at Sonterra, a 202-unit Independent and Assisted Living Community located in San Antonio, TX.  The project was developed Franklin Development and is operated by a Franklin affiliated management company.  To date, the firm has developed more than 5,000 multifamily units — most of those located in Texas. The company’s first Franklin Park senior living community was built in 2001.  The company currently owns/operates a total of seven seniors housing properties all located within Dallas and San Antonio, MSAs.  

About Harrison Street Real Estate Capital

Harrison Street is a real estate private equity firm founded in 2005 that directly and through its affiliates, has over $5 billion in assets under management (AUM) through commingled funds and public securities products. The commingled funds focus exclusively on the Education, Healthcare and Storage segments of the US real estate market. The firm currently owns approximately $4.2 billion in real estate assets consisting of over 250 properties in 38 states  including over 30,000 student housing beds, more than 7,300 senior housing/assisted living units, over 1.4 million square feet of medical office space, and more than 72,000 self-storage units.  Additionally, Harrison Street Securities LLC currently manages over $950 million in REIT securities through distinct long only product offerings. For more information please visit www.harrisonst.com.

About KeyBank Real Estate Capital

KeyBank Real Estate Capital is a leading provider of commercial real estate finance. Its professionals, located in select markets across the country, provide construction and interim finance, permanent mortgages, commercial real estate loan servicing, investment banking and cash management services for virtually all types of income producing commercial real estate.  As a Fannie Mae Delegated Underwriter and Servicer, Freddie Mac Program Plus Seller/Servicer and FHA approved mortgagee, KeyBank Real Estate Capital offers a variety of agency financing solutions for multi-family properties, including seniors housing and student housing. KeyBank Real Estate Capital is also one of the nation’s largest and highest rated commercial mortgage servicers.

About KeyCorp

KeyCorp (NYSE: KEY) is one of the nation's largest bank-based financial services companies, with assets of approximately $89 billion. Key companies provide investment management, retail and commercial banking, consumer finance, and investment banking products and services to individuals and companies throughout the United States and, for certain businesses, internationally. For more information, visit https://www.key.com/aboutkey.