CLEVELAND — The Commercial Mortgage Access division of Cleveland-based KeyBank Real Estate Capital has provided more than $6.33 million in loans for four Midwest apartment communities. In Walled Lake, Mich., the company has provided approximately $2.6 million in financing for Hawk Lake Apartments. The 10-year loan represented a loan-to-value of 75 percent. KeyBank also provided an approximately $1.68 million loan for Garfield Club Apartments located in Garfield Heights, Ohio. Financing for Garfield Club Apartments was based on a 10-year term. In North Royalton, Ohio, KeyBank provided financing for the Royal Garden Apartments. The $1.44 million loan was based on a 5-year term. Finally, the company has provided $616,000 to finance Wind Ridge Apartments located in Batesville, Ind. The 10-year loan represented a loan-to-value of 70 percent. Additional terms of the loans were not disclosed.
KEYBANK PROVIDES MORE THAN $6.33 MILLION IN MULTIFAMILY LOANS