KEYBANK PROVIDES $19.3M LOAN FOR TWO PENSACOLA MULTIFAMILY PROPERTIES

PENSACOLA, FLA. — KeyBank Real Estate Capital has secured an $11.7 million fixed-rate CMBS loan for Jasmine Creek Apartments, a 200-unit garden-style apartment complex in Pensacola. KeyBank also secured a $7.6 million fixed-rate CMBS loan for Flats at Ninth Apartments, a 168-unit multifamily property located in Pensacola. Both loans were used to pay off existing KeyBank credit facilities. The sponsor for both loans was The Kislak Organization, a private investor based in Miami.