KEYBANK SECURES $52.6 MILLION IN FREDDIE, FANNIE LOANS

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HOUSTON, DALLAS AND PLANO, TEXAS — KeyBank Real Estate Capital has arranged $52.6 million in financing for four Texas multifamily properties. KeyBank secured $50 million in Freddie Mac ARM loans for three of the apartment communities. In Houston, $22 million was provided to Pearland Apartments, Ltd. for the 292-unit Cobblestone Park Apartments. In Dallas, $16 million was provided to FCLC Dallas for the 244-unit Hidden Creek Apartments. In Plano, $12 million was provided to Bristlecone Texas, Ltd. for the 268-unit Cottages at Tulane. Additionally, KeyBank secured $2.6 million in Fannie Mae Refinance Tier 2++ funding for Gaston and Junius Apartments, a 47-unit community located in Dallas. The borrower is Power Investments Inc.

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