News: Financial Digest
Posted: February 8, 2019
KeyBank arranges $50.2 million Freddie Mac first mortgage loan
Randolph, MA KeyBank Real Estate Capital has arranged a $50.2 million Freddie Mac first mortgage loan for Residences at Great Pond, a recently constructed apartment complex. The 234-unit, mid-rise complex is comprised of four, six-story residential buildings on 16.7 acres.
Dirk Falardeau of Key’s Commercial Mortgage Group arranged the non-recourse, fixed-rate loan with an 11-year term, seven-year interest only period and 30-year amortization schedule.
The Freddie Mac financing was used to repay a $39.7 million construction loan, originated by Matt Purtell of KeyBank’s Income Property Group in Boston.
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