KeyBank Arranges $140.3M Refinancing for Three Multifamily Properties in Utah, Arizona


Park at City Center in Sandy, Utah, features a mix of one-, two- and three-bedroom layouts.

SANDY AND LAYTON, UTAH, AND FLAGSTAFF, ARIZ. — KeyBank Real Estate Capital (KBREC) has secured a $140.3 million in Fannie Mae Credit Facility for Centerville, Utah-based Keller Investment Properties. The borrower will use the facility, which is expandable to additional properties, to refinance three multifamily assets in Utah and Arizona.

The properties are Park at City Center in Sandy, Quail Cove Apartments in Layton and Woodcrest Apartments in Flagstaff.

Brain Caudel of KBREC’s Commercial Mortgage Group and Devin Jolley of KBREC’s Income Property Group structured the financing.

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