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PARMA HEIGHTS, OHIO, AND ANGOLA, IND. — KeyBank Real Estate Capital has secured a total of $8.85 million for the refinancing of two Midwest apartment communities. In Parma Heights, KeyBank arranged $5 million in Freddie Mac funds for Phase III of Big Creek Apartments. The phase comprises 10 two- and three-story buildings with a total of 112 units. The borrower is Big Creek Apartments I LLC. Big Creek Apartments was constructed in multiple phases and contains a total of 516 units.
In Angola, Key arranged $3.85 million in Fannie Mae funds for Village Green Apartments. Constructed in 1986, Village Green comprises 13 buildings with 200 units. The borrower was undisclosed.