|Deal Type||Fannie Mae|
|Our Role||Lead Arranger|
KeyBank Real Estate Capital has arranged a $63 million Fannie Mae, first mortgage loan for Beach House, a Class A mid-rise apartment complex in Revere, MA. Baystone Development built the property in 2018 and continues to own the asset. The 234-unit property is comprised of a single seven-story building that is situated on approximately two acres of land.
Hayley Suminski of Key’s Commercial Mortgage Group arranged the non-recourse, fixed-rate financing with a 10-year term, five-year interest only period and 30-year amortization schedule. The loan was used to refinance a KeyBank construction loan.