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Atlanta & Southeast  + Finance  |  August 14, 2020
Paul Bubny
By: Paul Bubny

KeyBank Secures $163M Refi on Southeast Apartments

KeyBank Real Estate Capital (KBREC) secured a $163-million master credit facility for Panther Residential Management (PRM), a Boston-area private equity real estate firm specializing in Southeastern multifamily. The facility refinances six multifamily housing properties in Georgia, Tennessee and Alabama.

The facility is structured as a cross-collateralized pool with a 15-year term, including a 10-year interest-only period through Fannie Mae’s DUS program.

Via hands-on management, value-add renovations and ground-up development, PRM significantly increased the value of this portfolio, which comprises more than 1,500 units, during its ownership before securing the long-term, fixed-rate credit facility.

The properties include: Panther Riverside Parc, Atlanta; Integra Hills Apartments and Integra Hills Preserve Apartments, Ooltewah, TN; Villas at Houston Levee East and Villas at Houston Levee West, Cordova, TN; and Huntsville Parc Apartments, Huntsville, AL.

Dirk Falardeau and Steven Hamm of KBREC’s Commercial Mortgage Group and Matt Purtell of KeyBank’s Income Property Group structured the financing.

Pictured: Panther Riverside Parc.

For comments, questions or concerns, please contact Paul Bubny

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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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