KeyBank Real Estate Capital has provided Foundations Health Solutions a total of $36.3 million through the FHA 232/223(f) loan program, the bank said.
The HUD refinance is for four skilled nursing facilities that were originally part of a nine-SNF portfolio acquired by Foundations Health Solutions. That purchase was made through a $87.5 million bridge loan arranged by KeyBank.
The properties have a total of 442 licensed beds.
John Randolph of KeyBank’s Commercial Mortgage Group coordinated the financing with Henry Alonso and Brandon Taseff of KeyBank’s Healthcare Finance Group.