Forest Lake
Overview
Deal Type |
Agency Lending |
---|---|
Size |
$55.5 Million Freddie Mac Floating Rate Loan |
Summary
The transaction includes a 1,068-bed (313-unit) garden-style, off-campus student housing community in Southern Florida. Built in 2001 and renovated in 2022, the property consists of 24, 3-story apartment buildings. The proposed loan will be used to refinance existing debt on the property. The loan is structured with a 10-year term, and subsequent to a 5-year interest only period, amortizes on a 30-year schedule. The improvements are situated on a 41.2-acre site.
Banking products and services are offered by KeyBank National Association. All credit products are subject to collateral and/or credit approval, terms, conditions, and availability and subject to change.