
KeyBank, Welltower Partner on Unitranche Healthcare Loan Program
KeyBank Real Estate Capital established a unitranche loan program with Welltower Inc. Totaling $750 million in lending capacity, the Healthcare Real Estate Fund will provide first mortgage financing on seniors housing and skilled nursing facilities.
“This product will provide a seamless, streamlined execution for our clients,” said Jim McLaughlin, co-head of institutional capital group at KeyBank. “We are thrilled about this program with Welltower that adds this healthcare real estate-focused unitranche loan program to our platform.”
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. Borrowers typically benefit from a single lending entity and blended interest rate.
Nikhil Chaudhri, co-head of US investments at Welltower, said the program provides “an exceptional relationship network with the top owner/operators in the healthcare real estate industry to identify attractive financing opportunities.”
- ◦Financing