KeyBank Provides $30M Agency Acquisition Loan for El Paso Multifamily Property
EL PASO, TEXAS — KeyBank Real Estate Capital has provided $30 million in Freddie Mac acquisition financing for Bungalows at North Hills, a 342-unit multifamily property in El Paso. Built on 18 acres in 2009, the property features studio, one-, two-, three- and four-bedroom units. Amenities include a pool, fitness center, clubhouse and outdoor grilling areas. Caleb Marten and Chris Neil of KeyBank originated the financing. The borrower was a real estate private equity firm based in New England. The property has since been rebranded as Forty649 North Hills Apartments.