KeyBank Provides $79.9M Refinancing Loan for Apartment Complex in Metro Nashville
MURFREESBORO, TENN. — KeyBank Real Estate Capital has provided a $79.9 million refinancing loan for LC Murfreesboro, a 580-unit apartment community in Murfreesboro, about 34 miles southwest of Nashville. The Freddie Mac loan features a fixed interest rate with an 11-year term, five years of interest-only payments and a 30-year amortization schedule. Built in phases between 2015 and 2018, LC Murfreesboro comprises19 three-story buildings offering one- and two-bedroom floor plans. Amenities include green spaces, a fitness center and a swimming pool. Jon Reible of KeyBank originated the loan on behalf of the borrower, Columbus, Ohio-based Lifestyle Communities to refinance existing debt.