HILLIARD, OH—Sentio Healthcare Properties Inc. has gained a $13.8 million loan to refinance Carriage Court of Hilliard, a 102-unit assisted living and memory care community in this Columbus suburb.
KeyBank Real Estate Capital recently closed the 35-year loan through a U.S. Department of Housing and Urban Development program. Additional terms of the loan include a low, fixed-interest rate and 35-year amortization schedule.
Senior Vice President Jack Boudler with KeyBank’s Senior Housing and Healthcare Group worked with the borrower to arrange the financing. With the loan, the borrower was able to refinance the community back to the original principal balance, Boulder said.
“We’ve enjoyed a multi-faceted business relationship with Sentio Healthcare Properties for many years, providing them a revolving credit facility, as well as Fannie Mae, Freddie Mac, CMBS and HUD mortgages,” said Jack Boudler, senior vice president of KeyBank’s Senior Housing and Healthcare Group. “Based on that relationship, we were able to refinance the HUD mortgage on Carriage Court of Hilliard at a historically low interest rate and further reduce debt service by re-amortizing the loan over the original 35 year term."