KeyBank Provides $21.4M Fannie Mae Loan for 200-Unit Apartment Community in Metro Dallas
RICHARDSON, TEXAS — KeyBank Real Estate Capital has provided a $21.4 million Fannie Mae first mortgage loan for Madison at Melrose Apartment Homes, a 200-unit multifamily community located in the northern Dallas metro of Richardson. The property was built in 1995 and is situated on 11.2 acres. Caleb Marten of KeyBank structured the 10-year loan, which features five years of interest-only payments and a 30-year amortization schedule. The loan will be used to refinance existing debt.