Franciscan Village

Overview

Size $26.9 Million
Construction Loan, Permanent Financing, & LIHTC Equity

Summary

KeyBank Community Development Lending & Investment provided financing for the new construction of Franciscan Village Apartments annex, a 62-unit mixed-income senior development in Cleveland, Ohio. The project consists of 58 affordable units serving seniors earning 30% to 60% of the area median income (AMI) and four market-rate senior units. Supportive services will be provided to residents and will include nutritional resources such as Meals on Wheels, senior transportation services, personal assistants and caregivers, financial counseling, health and legal services, and educational opportunities. We want to thank Salus-Joyce Development, Our Lady of Angels, and Barton Communities for their sponsorship and shared mission to build much-needed affordable housing in Cleveland.

The financing includes an $11.4 million construction loan and $2.7 million in permanent financing as well as $12.8 million in LIHTC equity.

Recent Deals

April 2025

regional medical center

a subsidiary of

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acquired by

santa clara

Financial Advisor

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ussolarfund

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$165.5 Million

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Coordinating Lead Arranger
Administrative Agent
Collateral Agent
Issuing Bank

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April 2025

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$931.5 Million

Initial Public Offering

Active Bookrunner

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North Mathews & Brynhurst

$50.2 Million

Construction Loan, LIHTC Equity, & Permanent Loan

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