KeyBank Provides $37.1M in Refinancing for Affordable Housing Community in Orlando
ORLANDO, FLA. — KeyBank Real Estate Capital has provided $37.1 million in refinancing for Castilian Apartments in Orlando. The 304-unit community comprises 17 two-story, garden-style apartment buildings. The property was originally built in 1975 and was renovated in 2017. Jeff Rodman and Kelly Frank of KeyBank secured a $33.4 million Freddie Mac loan, as well as a $3.7 million Letter of Credit to the undisclosed borrower. The workforce housing property sits on 14.8 acres and features units with rents at 80 percent of area median income or less.