KeyBank Provides $35.2M Fannie Mae Acquisition Loan for Apartment Community in Broward County

DANIA BEACH, FLA. — KeyBank Real Estate Capital has provided a $35.2 million Fannie Mae loan for the acquisition and rehabilitation of Sheridan Lake Club Apartments, a 240-unit multifamily community in Dania Beach. Timothy DeWispelaere of KeyBank originated the 10-year loan with five years of interest-only payments and a 30-year amortization schedule through Fannie Mae’s Green Rewards program. The name of the borrower was not disclosed, but local media outlets report American Landmark Properties acquired the property. Situated in South Florida’s Broward County, Sheridan Lake Club Apartments was built in 2001 and features a resort-style pool, 24-hour fitness center, business center, pet park and a playground.