Upper East Side nursing home lands $127M in financing
Loan will pay off bridge loan, fund improvements to building at 211 East 79th
An Upper East Side nursing home has landed a $127 million loan from KeyBank.
The money for the Upper East Side Rehabilitation and Nursing Center, located at 211 East 79th Street, will pay off a previous acquisition bridge loan from KeyBank and finance more than $7 million in improvements at the facility, according to KeyBank.
The financing team was made up of KeyBank’s John Randolph, Henry Alonso and Brandon Taseff.
KeyBank also financed the $105.5 million acquisition of the building in 2015 with a $93 million loan. The nursing home operator Cassena Care bought the building that year from longtime owner Marilyn Lichtman.