KeyBank Provides $22.8 Million Financing for 390-Bed Student Housing Community Near Florida State

The Luxe on West Call is located near Florida State University in Tallahassee. The Luxe on West Call is located near Florida State University in Tallahassee.

Tallahassee, Fla. — KeyBank Real Estate Capital has provided a $22.8 million Fannie Mae first mortgage loan for The Luxe on West Call, a 390-bed student housing community located near Florida State University in Tallahassee.

The property offers studio, one-, two-, three- and four-bedroom units with bed-to-bath parity. Community amenities include a 24-hour, state-of-the-art fitness center; media room; 24-hour business center; two-story social lounge; saltwater pool and cabana; bike storage and maintenance; complimentary tanning beds; and ground floor retail leased to tenants including Bellezza Beauty Bar, Asian Rox and Maple Street Biscuits. Erik Storz of KeyBank arranged the nonrecourse financing with a seven-year term, two years of interest only and a 30-year amortization period. The financing was used to facilitate the acquisition of the property.

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