KeyBank Provides $13.3M Freddie Mac Loan to Refinance Orlando Apartment Community

ORLANDO, FLA. — KeyBank Real Estate Capital has provided a $13.3 million Freddie Mac loan for the refinancing of Aventura Apartments, a 144-unit multifamily community in Orlando. Jeff Rodman and Kelly Frank of KeyBank originated the seven-year, floating-rate loan with a 30-year amortization schedule. The name of the borrower was not disclosed. The loan features a 15-month earnout provision, which is collateralized by a KeyBank-provided letter of credit. Aventura Apartments was constructed in 1984 and has undergone extensive renovations over the past two years. The property will reserve 20 percent of the units for those earning 80 percent of the area median income (AMI). The community features a fitness center, swimming pool, playground and a grilling and picnic area.