Finance p Tennessee

KeyBank originates $39 million loan for Nashville apartment complex

KeyBank originates $39 million loan for Nashville apartment complex,ph01

KeyBank Real Estate Capital has originated a $39.9 million Fannie Mae first-mortgage loan for Peyton Stakes, an apartment development in Nashville.

The 249-unit multifamily apartment complex was built in 2017 and is comprised of one five-story residential building and one parking garage. The property is situated on 2.34 acres of land.

Robert Prouty of Key’s Commercial Mortgage Group arranged the fixed-rate financing with a 10-year interest only term. The loan was used to facilitate the acquisition of the property.