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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.


