Francis John Apartments & Frederick Douglass II

Overview

Size $41 Million
Letter of Credit & LIHTC Equity

Summary

KeyBank Community Development Lending & Investment provided financing for the acquisition and rehabilitation of Francis John Apartments & Frederick Douglass II, two existing affordable senior properties totaling 174 units in Buffalo, New York. This project will serve seniors earning no more than 50% of the area median income (AMI) and will be supported by a 20-year Section 8 HAP contract. We want to thank the Buffalo Municipal Housing Authority, Bridges Development Inc., and Smith & Henzy Affordable Group for their sponsorship and shared mission to preserve much-needed affordable housing in Buffalo.

The financing includes a $22.1 million letter of credit and $18.9 million in Low-Income Housing Tax Credit (LIHTC) equity.

Recent Deals

October 2025

lightshiftenergy

$75 Million

Senior Secured Credit Facilities

Coordinating Lead Arranger
Depositary Agent
Collateral Agent
Administrative Agent

lightshift-energy
October 2025

warhorse

$300 Million

Senior Secured Credit Facilities

Joint Lead Arranger
Joint Bookrunner
Syndication Agent

warhorse-gaming
October 2025

avance

acquired

barchemy

Exclusive Buy-Side Advisor

avance-investment-management
September 2025

the heights

The Heights

$71.2 Million

Constuction Loan, LIHTC Equity, Permanent Loan & Public Sale of Bonds

the-heights

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