KEYBANK SECURES $61.8 MILLION IN LOANS FOR NINE STUDENT HOUSING PROPERTIES

TROY AND JACKSONVILLE, ALA.; STATESBORO, GA.; BOWLING GREEN AND MURRAY, KY,; CLEMSON, S.C.; AND MARTIN, TENN. — KeyBank Real Estate Capital has provided $61.8 million in financing for the acquisition of nine student housing properties across the Southeast. The funding was arranged on behalf of Kayne Anderson Real Estate Partners I, a private equity real estate fund managed by Kayne Anderson Capital Advisors. KeyBank arranged $58 million in Freddie Mac financing for eight properties, including Troy Place in Troy receiving $9.15 million; The Pointe at Southern in Statesboro receiving $8.94 million; Western Place in Bowling Green receiving $7.24 million; Gables Student Apartments in Bowling Green receiving $3.61 million; Chase at Murray receiving $5.13 million; Berkeley Place in Clemson receiving $9.88 million; Clemson Place in Clemson receiving $6.39 million; and Reserve at Martin in Martin receiving $7.63 million. Additionally, KeyBank provided a $3.85 million bridge loan for the acquisition and stabilization of a student housing project in Jacksonville, Ala.