TODAY’S DEALS: KeyBank Real Estate Capital Closes $25M Loan for Texas Multifamily Property, and Other Transactions

By Anuradha Kher, Online News EditorIrving, Texas–KeyBank Real Estate Capital recently closed a $25 million loan for Canal Side Lofts (pictured), a 306-unit urban loft complex in Irving, Texas. KeyBank provided a permanent loan through Freddie Mac, refinancing an existing construction loan KeyBank had provided when the property was built in 2006. The borrower is…

By Anuradha Kher, Online News EditorIrving, Texas–KeyBank Real Estate Capital recently closed a $25 million loan for Canal Side Lofts (pictured), a 306-unit urban loft complex in Irving, Texas. KeyBank provided a permanent loan through Freddie Mac, refinancing an existing construction loan KeyBank had provided when the property was built in 2006. The borrower is Canal Side lofts, Ltd.Arbor Closes $15,035,900 Fannie Mae DUS Loan, and Other TransactionsStone Mountain, Ga.–Arbor Commercial Funding LLC recently completed a funding of a $15,035,900 loan under the Fannie Mae DUS product line to finance the 435-unit complex known as Hidden Pointe Apartments in Stone Mountain, Ga.The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.18 percent.PNC ARCS Provides $4,376,000 for a Multifamily Property in Los AngelesLos Angeles–PNC ARCS provided a $4.376 million loan for the Saltair Apartments, a 27-unit multifamily property in Los Angeles.Built in 1977, Saltair Apartments is a low-rise building built over a street-level parking garage. Amenities include laundry facilities throughout the building and covered parking.  The loan was for a 10-year term/30-year amortization at a fixed rate of 6.34 percent.

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