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New York & Tri-State  + Outer  + Healthcare  | 

KeyBank Arranges HUD Refi of Jamaica SNF

KeyBank Real Estate Capital (KBREC) secured $40 million of fixed-rate financing for a group of highly experienced investors who own and operate skilled nursing facilities to refinance a healthcare facility in the Jamaica neighborhood of Queens.
 
Built in 1971 with an addition in 1975, the Margaret Tietz Nursing & Rehabilitation Center at 164-11 Chapin Pkwy. is a skilled nursing facility that comprises 170 units (200 beds) in one six-story building. The center’s services include long-term residential care, short-term rehabilitation, palliative care, holistic services and music therapy.
 
The mortgage loan, which was closed using the U.S. Department of Housing and Urban Development’s 232/223(f) mortgage insurance program, is structured with a fully amortizing 35-year term.
 
John Randolph of KBREC’s Commercial Mortgage Group and Henry Alonso of KeyBank’s Institutional Real Estate Group structured the financing.

For comments, questions or concerns, please contact Paul Bubny

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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