KeyBank Provides $9.9M Loan For Margaret Wagner Senior Apartments In Cleveland Heights, Ohio

The conversion of Margaret Wagner Senior Apartments in Cleveland Heights, Ohio, has received $9.9 million in low-income housing tax credit equity from KeyBank Community Development Lending and Investment. The project, developed by CHN Housing Partners and Benjamin Rose, will include the creation of 20 new low-income senior housing units while also preserving 60 existing units. Located at 2375 Euclid Heights Boulevard, the senior housing asset is part of the senior housing market in Cleveland Heights, Ohio.

Summary of transaction details

• Property Type: Senior Housing
• Transaction Amount: $9,900,000
• Lender: KeyBank Community Development Lending and Investment

The conversion project for Margaret Wagner Senior Apartments in Cleveland Heights was co-developed by CHN Housing Partners and Benjamin Rose. The loan provided by KeyBank Community Development Lending and Investment will enable the creation of 20 new low-income senior housing units, while also preserving the existing 60 units. The project aims to address the housing needs of low-income seniors in the area.