KeyBank Provides $15M Freddie Mac Acquisition Loan for Multifamily Asset in Potsdam, New York

by Alex Patton

POTSDAM, N.Y. — KeyBank Real Estate Capital has provided a $15 million Freddie Mac acquisition loan for Lawrence Avenue Apartments, a 137-unit multifamily property in Potsdam, a city in Upstate New York. The property was built in 1980 and comprises five two-story buildings. The borrower, a partnership between N.Y. Community Preservation Partners and Rochester’s Cornerstone Group, plan to refurbish and renovate the property. Robbie Lynn of KeyBank arranged the financing.

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