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KeyBank Secures $6M Acquisition Loan for Apartment Property in Moosup, Connecticut

Moosup Apartments is located in the rural community of Moosup, Conn.

Moosup Apartments is located in the rural community of Moosup, Conn.

MOOSUP, CONN. — KeyBank’s community development lending and investment team has financed a $6 million bridge-to-HUD loan for Vesta Corp. for the acquisition of Moosup Apartments. The property is an 89-unit multifamily complex consisting of nine two-story buildings in the rural community of Moosup. Moosup Apartments includes one-, two- and three- bedroom townhomes. Of the 89 units, 27 are covered by a Section 8 HAP contract. KeyBank’s Kelly Frank arranged the financing.

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