DEAL OF THE DAY: KeyBank Provides $10M in Refinancing

Philadelphia‑KeyBank Real Estate Capital recently provided approximately $10 million in Fannie Mae and Freddie Mac funding for the refinancing of two multifamily properties in the Northeast.

In the first transaction, Key provided a $4.7 million Freddie Mac fixed-rate loan for Bryn Mawr Suites, LP. The funds will be used to refinance Bryn Mawr Suites Apartments, a 104-unit apartment complex built in 1959 in Philadelphia, Pa.

In the second transaction, Key provided a $5.3 Fannie Mae loan for Chestnut Hill East, LLC. The loan will be used to refinance Chestnut Hill Apartments. Built in 1977, the 97-unit apartment complex is located in Hamden, Conn.