Upstate NY Multifamily Portfolio
|Deal Type||Freddie Mac|
|Size||$47 Million||Our Role||Lender|
KeyBank Real Estate Capital (KBREC) secured $40.8 million of fixed-rate Freddie Mac financing and $6.4 million of fixed-rate financing for a Rochester, N.Y.-based real estate company to refinance six multifamily properties and three commercial properties, respectively, in Upstate New York.
Built between 1963 and 2018, the six multifamily properties comprise a total of 666 units in 85 buildings on 71 acres of land. The two-story, garden-style properties have a mix of amenities including: clubhouses, pools, exercise rooms, patios, balconies, fireplaces, walk-in closets, playgrounds and carport parking. They are located in Churchville, Rochester, Webster and Brighton.
Built between 1985 and 2004, the three commercial properties comprise 123,600 square feet of office and retail space.