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Chicago & Midwest  + Midwest  + Finance  | 
Autumn Woods apartments Sterling Heights MI

KeyBank Arranges $40M in Fannie Mae Loans on Apartments in Michigan, Southeast

KeyBank Real Estate Capital (KBREC) secured $40.2 million of fixed-rate Fannie Mae financing for The Benchmark Group, a real estate developer, acquirer and manager based in Amherst, NY., to refinance three multifamily properties in Florida, Michigan and South Carolina. They include Autumn Woods in Sterling Heights, MI; Huntington Place in Columbia, SC; and Village at University Square in Tampa. 

Largest of the three properties is Autumn Woods (pictured). Built in 1973, it’s an affordable 286-unit garden-style apartment community consisting of 42 one- and two-story buildings on 30 acres. 

Huntington Place includes eight one- and three-story garden-style buildings built in 1998 on 17 acres  within walking distance of the USC School of Medicine. The 122-unit garden-style Village at University Square was built in 1982, sits on six acres and comprises five two-story buildings.   

Dirk Falardeau of KBREC’s Commercial Mortgage Group and David Pyc of KBREC’s Income Property Group structured the financing. 

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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