TODAY’S DEALS: KeyBank Real Estate Capital Closes $9.5M Loan for Multifamily Property near Baltimore, and Other Transactions
- Feb 26, 2009
By Anuradha Kher, Online News Editor Odenton, Md.–KeyBank Real Estate Capital recently closed a $9.5 million Freddie Mac loan for Riverscape Apartments (pictured) in Odenton, Md. KeyBank provided a supplemental loan to Riverscape Limited Partnership for the 280-unit Class A multifamily property built in 1999. Since the initial funding in 2004, the property’s performance has improved, which allowed Riverscape Limited Partnership to increase outstanding debt on the property.Arbor Closes $7,492,700 Fannie Mae DUS LoanDallas–Arbor Commercial Funding LLC recently completed funding of a $7,492,700 loan under the Fannie Mae DUS product line to refinance the 276-unit property known as Carousel Apartments in Dallas.The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.70 percent.