Updated Oct 28, 2024
KeyBank Real Estate Capital Provides $53.1M Bridge Loan For Senior Housing In Raleigh, NC
3550 Horton Street, Raleigh, North Carolina 27607, United States
$53,100,000
Building Size
—
Asset Type
—
Closing
Oct 4, 2022
About this deal
AI
The senior housing located at 3550 Horton St in Raleigh, NC has recently undergone a loan transaction. The loan, valued at $53,100,000, was provided by keybank-''>KeyBank Real Estate Capital in the form of a bridge loan. The landlord of the property, Singh Development, sought this financing opportunity to support the ongoing operations and development of the senior housing facility.
Summary of Transaction Details
- Asset Type: Senior Housing
- Loan Amount: $53,100,000
- Loan Type: Bridge loan
- Lender: KeyBank Real Estate Capital
- Landlord: Singh Development
- Address: 3550 Horton St, Raleigh, NC
- Market: Raleigh, NC
KeyBank Real Estate Capital acted as the lender in this transaction, providing financial support through the bridge loan. Singh Development, the landlord, sought this loan to further develop and maintain the senior housing facility located at 3550 Horton St. Both parties worked collaboratively to finalize this loan agreement, ensuring the continued success of the senior housing property in Raleigh, NC.
Players
Raleigh CRE Market Snapshot
Boundary boundary · CRE · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.30%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93