DEAL OF THE DAY: KeyBank Closes $200M Fannie Mae Credit For Campus Apartments
- Mar 25, 2008
Athens, Ga., Lancaster, Pa.–KeyBank Real Estate Capital has recently closed a $200 million Fannie Mae structured credit facility on behalf of Campus Apartments. The credit facility has a 15-year term, and Campus Apartments has two years to make advances from the facility. At closing, Campus Apartments made two advances: $12,565,000 for the acquisition of Abbey West Apartments (pictured), a 568-bed property located at the University of Georgia in Athens, Ga., and $26,425,000 for the acquisition of College Row, a 393-bed property located at Franklin & Marshall College in Lancaster, Pa. Both fixed and floating rate advances are available.