KeyBank Secures Delaware Acquisition Financing

KeyBank lands a $20.4 million Fannie acquisition loan; Greysteel closes a 16-unit sale in Washington, D.C.; and Essex Realty brokers the sale of a six-unit building for $805,000.

Village of Windhover ApartmentsNew Castle Hundred, Del.—KeyBank Real Estate Capital has secured a $20.4 million Fannie Mae loan for Village of Windhover Apartments, a multifamily apartment community located in New Castle Hundred, Del.

The 383-unit, garden-style apartment community was built in 1975-1979, and renovated from 2013-2014. Jeannie Johnson of Key’s Commercial Mortgage Group arranged the financing, which was used to acquire the property.

Greysteel closes 16-unit sale in D.C.

DSC05829Washington, D.C.—The Greysteel Co. has arranged the sale of California Flats, a 16-unit walk-up apartment asset located at 1829 California Street in Northwest Washington, D.C. Greysteel’s Mid-Atlantic multifamily investment sales team served as exclusive advisor and agent to Phoenix Housing Partnership in the successful disposition of California Flats to California Land Trust.

California Flats is composed of one efficiency, four one bedrooms, nine two bedrooms and two three bedrooms. Boasting a Walkscore of 98, the Property offers residents a walkable lifestyle near award winning restaurants, international shops, and nightlife in the lively neighborhood of Adams Morgan.

Essex Realty brokers sale of a six-unit building for $805K

WesternChicago—Essex Realty Group Inc. announced the sale of 939 N. Western Ave.

939 N. Western Ave. is a six-unit mixed-use walk-up building located in Chicago’s Ukrainian Village neighborhood.  The residential units all offer attractive floor plans with eat-in kitchens. Four apartments have new kitchen cabinets and two apartments include granite countertops. In addition, the commercial space boasts high ceilings and offers 1,100 square feet of additional private basement storage space. The building has hardwood floors throughout and offers one private storage unit per apartment.

The property is situated on the east side of Western Avenue, just south of Augusta Boulevard, and is located steps from several well-known Chicago destinations such as the Empty Bottle and Lockdown Bar & Grill.  In addition, the property is located within close proximity to multiple CTA bus stops along Western Avenue and Chicago Avenue, as well as the Western Avenue Metra Station.

The sale price was approximately $805,000.

Abe Eilian and Matt Welke were the brokers on the transaction.