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Florida & Gulf Coast  + Apartments  |  May 25, 2020
David Cohen
By: David Cohen

Keybank Secures $52M Acquisition Loan for Wesley Chapel MF Property

KeyBank Real Estate Capital has secured a $52 million acquisition loan for Altis Wiregrass Ranch, a 392-unit, garden-style apartment property in Wesley Chapel.

Built in 2018, the community is comprised of 16, three-story residential buildings that feature one, two and three-bedroom units on 20 acres of land. Amenities include a resort-style pool with cabanas, fitness center, recreation room, playground as well as private balconies and patios.

Trevor Ritter of KeyBank’s Commercial Mortgage Group and Jim Komperda of KeyBank’s Institutional Real Estate Group structured the financing on behalf of the borrower, Atlanta-based Preferred Apartment Communities. Terms of the financing included a 10-year term followed by a 30-year amortization schedule. The lender was not disclosed.

For comments, questions or concerns, please contact David Cohen

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About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.
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