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KeyBank, AMA Arranges $403M Financing for Campus Apartments
KeyBank Real Estate Capital and AMA Financial collectively secured $402.6 million in Fannie Mae, Freddie Mac, and balance sheet financing for Philadelphia-based Campus Apartments during the first quarter, refinancing 19 student housing properties and funding the acquisition of a 20th property. Collectively, the financing encompassed 3,438 units with 9,332 beds.
As part of the transaction, KeyBank provided a non-recourse Fannie Mae Credit Facility secured by a geographically diverse portfolio of 17 dedicated student properties. Campus Apartments has owned and operated the 2,826-unit portfolio for 10-plus years. The facility is structured with a 10-year interest only period and allows for the addition and substitution of collateral.
Separately, KeyBank provided Campus with a balance sheet facility of $18,905,000 to refinance properties in Statesboro, GA and Lafayette, LA.; and a $29,250,000 Freddie Mac adjustable-rate loan to acquire The Hudson, also in Statesboro.
KeyBank’s Steven Hamm and Tom Hunter structured the financing.
- ◦Financing

