KeyBank Secures Financing for Six Texas Multifamily Housing Properties
KeyBank Real Estate Capital secured a $807.5 million loan through Freddie Mac for NexPoint Residential Trust (NXRT) – a publicly traded real estate investment trust (REIT) – to refinance 19 multifamily housing properties in six states including six properties in Texas. The portfolio consists of garden-style market-rate apartments. The Texas properties include: 1) Crestmont Reserve in Dallas, 2) Summers Landing in Ft. Worth, 3) The Arbors on Forest Ridge in Bedford, 4) Cutter’s Point in Richardson, 5) Versailles in Dallas, and 6) Venue at 8651 in Ft. Worth.
Across the portfolio amenities range from a resort-style swimming pool with sundeck, state-of-the-art fitness center, BBQ grilling areas/picnic tables, resident clubhouse and business center, package services, volleyball and tennis courts, playground, attached garages, and care car centers.
Christopher Black, Brendan O’Keefe and Christopher Neil of KeyBank’s Commercial Mortgage Group originated and structured the loan.
Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.
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