Finance Q Kentucky

KeyBank provides $86 million in financing for Kentucky multifamily property

KeyBank provides $86 million in financing for Kentucky multifamily property,ph01

KeyBank Real Estate Capital has secured $86 million in Freddie Mac financing for Lifestyle Communities, based in Columbus, Ohio, to refinance a 646-unit Class-A multifamily complex in Louisville, Kentucky.

LC Middletown comprises 33 two- and three-story buildings on 43 acres of land. The property was built in two phases – phase I, which includes 360 units, was completed in 2014, and phase II, which comprises 286 units, was completed in 2017.

The refinancing will combine the debt of the two phases.

Rob Garrison of KeyBank Real Estate Capital’s Commercial Mortgage Group arranged the financing for the property.