Ashton Brook Apartments
|Deal Type||Fannie Mae|
|Our Role||Lead Arranger|
KeyBank Real Estate Capital has secured a $24.9 million Fannie Mae, first mortgage loan for Ashton Brook Apartments in Graymoor-Devondale, KY. Built in 1979 and renovated in 2017, the garden-style property is comprised of 25, two-story buildings situated on 20 acres of land.
Tim Weldon 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 will be used to facilitate the acquisition of the property.