KBREC Del Norte Place CA
|Deal Type||Freddie Mac|
|Size||$32 Million||Our Role||Lender|
KEYBANK SECURES $32 MILLION OF FINANCING FOR MULTIFAMILY PROPERTY IN CALIFORNIA
KeyBank Real Estate Capital (KBREC) arranged $32 million of Freddie Mac floating rate financing for MG Properties Group to refinance a multifamily property in El Cerrito, Calif. The refinance loan proceeds were used to re-leverage the asset in conjunction with MG Properties recapitalization of the subject property with an institutional equity partner. MG Properties is a real estate investment company based in San Diego specializing in acquiring, developing, rehabilitating and managing apartments throughout the Western U.S.