KeyBank Provides $5M Acquisition Loan for Seniors Housing Apartments in Paterson, New Jersey


Rosa Parks Apartments in Paterson totals 50 units.

PATERSON, N.J. — KeyBank’s Community Development Lending and Investment (CDLI) team has provided $5 million in acquisition financing for Rosa Parks Apartments, a 50-unit affordable housing property for seniors in Paterson. The borrower was Radiant Property Management LLC, a Newark-based real estate services company that will also manage the property following the acquisition. Eric Steinberg of KeyBank’s CDLI team structured the financing.

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