KeyBank Secures $29.4 Million Refinancing for 322-Bed Community Near the University at Albany

Albany, N.Y. — KeyBank Real Estate Capital has secured a $29.4 million refinancing for Auden Albany Student Housing, a 322-bed community serving students attending the University at Albany — State University of New York. The fixed-rate, Fannie Mae loan is structured with a 12-year term and a 36-month, interest-only period. Erik Storz and Pete Rand of KeyBank structured the financing on behalf of the borrower, DMG Investments. The community offers units with bed-to-bath parity alongside shared amenities including a fitness center, game room, yoga studio and clubhouse.