KeyBank Closes $21.1M Fannie Mae Acquisition Loan for Multifamily Asset in Metro Houston
CYPRESS, TEXAS — KeyBank Real Estate Capital has closed a $21.1 million Fannie Mae first mortgage loan for the acquisition of Cypress Village, a 273-unit multifamily asset in Cypress, a northwestern suburb of Houston. The property was built in 2008 and comprises 10 three-story buildings. Amenities include a pool, fitness center, media room, putting green, jogging track and volleyball court. Tom Peloquin of KeyBank closed the non-recourse, 12-year loan, which carries a fixed interest rate and a 30-year amortization schedule. The borrower was not disclosed.