KEYBANK SECURES $95M MULTIFAMILY LOAN

BETHESDA, MD. — KeyBank Real Estate Capital has arranged $95 million in Fannie Mae financing for the 549-unit The Grand Apartments, a luxury high-rise apartment community located at 5803 Nicholson Lane in Bethesda. KeyBank secured the 10-year loan with 5 years of interest-only payments on behalf of the borrower, ForestCity Enterprises.