Webster Provides $21.8M Senior Financing to AEW Capital Management and Senior Lifestyle Corporation
STAMFORD, Conn., August 24, 2022 – Webster Bank is pleased to announce it has provided a $21.8 million senior mortgage loan to AEW Capital Management and Senior Lifestyle Corporation (SLC) in connection with the refinancing of a 71-unit Assisted Living and Memory Care community located in Newtown, Connecticut.
“AEW has been a pioneer and leader in senior housing and Webster Bank is pleased to partner with AEW to support its successful development of a senior housing facility serving the Newtown community and surrounding area,” said Steve Dowe, senior vice president and Head of Healthcare CRE at Webster Bank. “This transaction is another example of Webster’s partnership with owners and operators of senior housing to help expand their senior housing strategies to best serve the lifestyle and clinical needs of the senior population.”
“We are delighted to again partner with Webster’s Healthcare team who provided a flexible, cost-efficient permanent debt solution to support the refinancing of this newly built community and bridge the property to its full stabilized operation,” said Brian Sunday, Managing Director and Head of Seniors Housing at AEW Capital Management. The community, Church Hill Village, was developed by AEW and SLC and opened in January 2020.
Webster Healthcare has a long history in providing capital solutions and commercial banking services to providers and investors across the sector. Webster Healthcare’s portfolio includes a broad array of loan commitments to healthcare facilities across the care continuum of senior living as well as acute care and post-acute care inpatient and outpatient treatment facilities.
Webster Bank (“Webster”) is a leading commercial bank in the Northeast that provides a wide range of digital and traditional financial solutions across three differentiated lines of business: Commercial Banking, Consumer Banking and its HSA Bank division, one of the country’s largest providers of employee benefits solutions. Headquartered in Stamford, CT, Webster is a values-driven organization with $68 billion in assets. Its core footprint spans the northeastern U.S. from New York to Massachusetts, with certain businesses operating in extended geographies. Webster Bank is a member of the FDIC and an equal housing lender. For more information about Webster, including our latest annual report, please visit our About page. To find our latest press releases, visit the Webster Newsroom.
|Media Contact:||Investor Contact:|
|Elaine K. Ficarra||Emlen Harmon|