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KeyBank extends $45.8 million loan to refinance Orchard Heights debt

KeyCorp.'s commercial real estate lending division has provided a $45.8 million loan to Hamister Group to refinance debt on the Orchard Heights senior housing property in Orchard Park.

KeyBank Real Estate Capital originated the fixed-rate, 15-year loan for the 162-unit property at 5200 Chestnut Ridge Road, which was constructed in 1992 and renovated in 2016. It includes a two-story apartment building with 114 assisted-living units, 32 independent-living units and 16 memory-care units.

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