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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.”  

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Inside The Story

KeyBank's McLaughlinWelltower's Chaudhri

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-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 15-20 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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