Keybank Secures $61.8 Million for Nine-Property Portfolio

The portfolio is located throughout the Southeast and is owned by Kayne Anderson.

Kayne-PointeSouthern-web
The Pointe at Southern
Cleveland —
 KeyBank Real Estate Capital has provided $61.8 million in financing for the acquisition of nine student housing properties across the Southeast. The funding was arranged on behalf of Kayne Anderson Real Estate Partners I, a private equity real estate fund managed by Kayne Anderson Capital Advisors. KeyBank arranged $58 million in Freddie Mac financing for eight properties, including Troy Place in Troy receiving $9.15 million; The Pointe at Southern in Statesboro receiving $8.94 million; Western Place in Bowling Green receiving $7.24 million; Gables Student Apartments in Bowling Green receiving $3.61 million; Chase at Murray receiving $5.13 million; Berkeley Place in Clemson receiving $9.88 million; Clemson Place in Clemson receiving $6.39 million; and Reserve at Martin in Martin receiving $7.63 million. Additionally, KeyBank provided a $3.85 million bridge loan for the acquisition and stabilization of a student housing project in Jacksonville, Ala.

— Amy Bigley

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