Agency

Our highly-ranked Agency platform is led by experienced professionals who offer a broad advisory perspective regarding financing solutions available through Freddie Mac, Fannie Mae and FHA/HUD. Before proceeding with any specific transaction, we help you determine the best financing execution, drawing from Key’s broad capabilities as a leading real estate lender and a Top 20 financial institution.

Many times, an Agency loan will represent the most effective solution for multifamily, student housing, seniors housing and skilled nursing properties requiring permanent or bridge-to-permanent financing. As an approved originator and loan servicer for multiple Agency programs, Key’s professionals are capable advisors for sophisticated and new borrowers alike.

Recognition of our Agency depth includes:

  • $2,263 Million of new Agency loans originated in 2011
  • 2011 Freddie Mac Structured Transactions Lender of the Year
  • 2011 Fannie Mae Excellence in Credit Underwriting Award
  • 2011 KeyCorp Excellence in Collaboration Award

We leverage decades of working closely with the agencies to shepherd your project through application, closing and follow-through. And we always keep your long-term goals in mind, ensuring that each loan makes sense to your overarching strategy.

Our Agency financing experience has provided capital for many multifamily owners.

Multifamily

  • We closed a $95 million Fannie Mae financing with Forest City Enterprises for “The Grand,” a mixed-income apartment community in Bethesda, MD.
  • KeyBank Real Estate Capital closed two loans totaling $63 million Freddie Mac financing with The Dolben Company for two properties; Woodview in Randolph, MA and The Groves at Piney Orchard in Odenton, MD.

Healthcare

  • KeyBank Real Estate Capital closed 13 loans with Athena Health Care Systems, totaling $114.4 million. The refinancing culminated a bridge to HUD execution on 13 skilled nursing facilities in the northeast.

Please view our recent Healthcare Agency Success

The following loan programs are available through Key working with Fannie Mae and Freddie Mac.

Fannie Mae

  • Standard DUS - Offers flexible terms, with choice between fixed-rate or ARM, balloon or fully amortizing, and wide choice of terms and prepayment options for acquisition or refinance of multifamily properties
  • Credit Facility - Both long-term and short-term flexible financing at a competitive price for a single pool of cross-collateralized and cross-defaulted multifamily mortgages
  • Student Housing - Customized solutions to financing student housing
  • Seniors Housing - Flexible and favorable loan terms for properties that provide independent living, assisted living, and/or assisted living with Alzheimer's care

Freddie Mac

  • Program Plus Fixed-Rate Program - Offers permanent financing for existing, leased multifamily properties.
  • Adjustable-Rate Mortgage - Choice of indices: 1-month or 3-month Freddie Mac Reference Bills® index or a 1-month or 3-month LIBOR index.
  • Student Housing Mortgage - Offers financing for acquisition or refinancing of purpose-built student housing or multifamily properties that are more than 50 percent occupied by students.
  • Program Plus Seniors Housing & Assisted Living Financing - Provides permanent financing with very attractive rates for quality rental housing and resident services for senior citizens who live in independent living, congregate care, and assisted living/memory care communities
  • Conventional Structured Finance - Products feature built-in pricing and pre-negotiated loan documents as well as the ability to lock credit terms and/or interest rates prior to identifying one, or a pool of properties to be purchased or refinanced

The following are loan programs available through Key working with FHA/ HUD:

  • Section 223(f) – Multifamily including refinance or acquisition
  • Section 221(d)(4) – Multifamily housing including new construction or substantial rehabilitation
  • Section 241(a) - Multifamily and Healthcare- supplemental loan
  • Section 232/223 (f) - Healthcare including refinance or acquisition
  • Section 232 – Healthcare including new construction or substantial rehabilitation
  • Section 242 and 242/223(f) – Hospitals- including new construction or substantial rehabilitation
  • Section 223(a)(7) - Refinance of multifamily and healthcare facilities
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