KeyBank has announced a $750 million healthcare real estate fund with Welltower.
The new unitranche loan program will provide first mortgage financing on seniors housing and skilled nursing facilities.
A unitranche loan blends senior and junior debt pricing and terms into a single first lien debt facility rather than creating two classes of debt and coordinating among multiple lenders. KeyBank says the approach increases certainty of execution, and borrowers typically benefit from a single lending entity and blended interest rate.
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