KEYBANK ARRANGES $51.8 MILLION IN FANNIE, FREDDIE LOANS
MASSACHUSETTS AND NEW YORK — KeyBank Real Estate Capital has arranged a total of $51.8 million in Fannie Mae and Freddie Mac loans for four projects located in Massachusetts and New York. In Cambridge, Mass., Forest City 91 Sidney Street LLC borrowed $25 million in Fannie Mae DMBS funds to refinance a 10-story, 135-unit property located within the 27-acre University Park at MIT master-planned development. In Great Neck, N.Y., Oxford Developers LLC borrowed $17.4 million in Freddie Mac immediate funding for Oxford Court, a 65-unit, Class A apartment complex. In Penfield, N.Y., Willow Pond Apartments LLC borrowed $6.5 million in Freddie Mac funds to refinance the 182-unit, Class B Willow Pond Apartments. Finally, in Danvers, Mass., Spring Meadows Associates LLC borrowed $2.9 million in Fannie Mae funding for the acquisition of a 22-unit multifamily property. Terms of the four loans were not disclosed.