Multifamily Lending

“The Lumen” located in Cleveland, OH. Built in 2020, the property consists of one, 34-story apartment building situated on 7.15 acres of land.

Steepleway Downs is a 224-unit, garden-style apartment complex that consists of 14 two-story buildings on 9.07 acres of land. The unit mix consists of one-bedroom and two-bedroom unit types. Amenities include a swimming pool, fitness center, picnic area and playground.

274-units garden-style apartment known as “Valencia at Doral” located in Doral, FL. Built in 1992, the Property consists of 15, three-story residential buildings, situated on 13.49-acre land.

KeyBank has provided a $50.6 million Freddie Mac loan to Pepper Pike Capital for the acquisition financing of two apartment projects in Michigan – Oak Park Manor Apartments and Stephenson House Apartments. The five-year loan, inclusive of extension options, is interest only for the full term and will give the sponsor the time and resources to execute on their business plan. The sponsor plans to implement extensive renovations to the interior and exterior of the properties shorty after acquisition. The improvements will modernize the assets and improve the overall experience at the properties. Pepper Pike Capital has a long track record of acquiring and improving apartment projects.

Oak Park Manor Apartments is located in Oak Park, MI, within a one-mile radius from the city’s central business district (CBD) and 16 miles from downtown Detroit. The 298-unit property offers a wide range of apartment mixes featuring one, two, and three bedrooms with up to two bathrooms.

Centrally located in Madison Heights, MI, Stephenson House Apartments is two miles from the city’s CBD and 18 miles from downtown Detroit. The building houses 128 units with a majority of one- and two-bedroom apartments.

22-unit apartment complex known as “Stillwell Townhomes”, located in La Pine, OR. Built in 2021, the Property consists of 10, one and two-story residential buildings, situated on 1.10-acre land.

Woodcreek Apartments, located in Lynnwood, WA. Built in 2000, the Property is comprised of 13, three-story residential buildings, 12 garage buildings, one clubhouse building, and one maintenance shop/storage building, situated on 7.99 acres of land.

Casa Del Mar, located in West Palm Beach, FL. Built in 1981 and renovated in 2019, the property consists of 36, two-story residential buildings, situated on 23.932 acres.

KeyBank Real Estate Capital is pleased to announce the origination of a $305M Fannie Mae Structured Credit Facility for Lightbulb Capital Group, LLC. The Facility involves multiple assets and provides Lightbulb Capital flexibility in growing its portfolio.

KeyBank Real Estate Capital has provided The Ergas Group with an $18M Fannie Mae refinancing of Stone Ridge Apartments in Dallas, Texas.

Grande Oaks Parc, a Class A 348-unit low-rise apartment complex, situated in Charleston, SC and Integra Crossings, a Class A 348-unit mid-rise apartment complex situated in Lake Mary, FL.

Landmark of West Allis consist of 127 garden style units on 3.6 acres of land. The property consists of one, four story building and provides 134 parking spaces. The property will receive $570,000 of capital improvements. 20% of the units are restricted to 50% AMI and the remaining units serving 60% and 80% AMI population. Landmark of West Allis benefits from 100% real estate tax exemption.

KeyBank Real Estate Capital has provided a total of $11.9 million through a Fannie Mae credit facility for the acquisition of Landmark of West Allis in West Allis, Wisconsin, by Harmony Housing, a 501(c)(3) nonprofit organization dedicated to providing safe, clean and comfortable affordable housing throughout the United States. The credit facility is based on a creative structure that allows Harmony Housing to easily add to its existing portfolio.

Keeler Park Apartments located in Rochester, NY built in 1974 and renovated in 2003.  The property consists of two, 16-story buildings on 5.95 acres of land.  The proposed loan will be used for the acquisition.