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LAS VEGAS — KeyBank Real Estate Capital has secured a $35.5 million Fannie Mae first mortgage loan for the acquisition of South Beach Resort in Las Vegas.
Situated on 9.8 acres, the property is comprised of 16 two-story residential buildings and features a total of 220 Class A apartment units.
Paul Angle of Key’s Commercial Mortgage Group provided the non-recourse, fixed-rate loan with 10 years of interest-only payments for the undisclosed borrower.