KeyBank secures $21.5 million financing

Grand Island, NY KeyBank Real Estate Capital (KBREC) secured $21.5 million of fixed-rate Freddie Mac financing for an unnamed sponsor to refinance a multifamily housing property.

Built in 1972, the 336-unit Country Glenn Apartments comprises 12 three-story buildings on 38 acres of land. Units are available in studio, one- and two-bedroom floor plans. Amenities at the pet-friendly property include a clubhouse, business and fitness centers, and swimming pool. The sponsor has invested $2 million of capital improvements into Country Glenn since 2016, when it acquired the property.

The loan is structured with a 10-year term, and subsequent to a five-year interest-only period, amortizes on a 30-year schedule.

John Ward of KBREC’s Commercial Mortgage Group and Alan Isenstadt of KBREC’s Income Property Group structured the financing. David Singer of Calloway Capital brokered the deal.

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Investment Property Realty Group closes $2.65 million sale of 723 6th Ave. in Greenwood Heights

Brooklyn, NY Investment Property Realty Group (IPRG) closed the sale of 723 6th Ave., a mixed-use building located in the Greenwood Heights section of the city, for $2.65 million.

CM&B completes 15,000 s/f Activate Games NYC debut in Union Square

Investment Property Realty Group closes $2.175 million sale of 247 Leonard St.

IPRG closes $2.175m sale of 247 Leonard St.

GFP Real Estate continues leasing momentum at 322 Eighth Ave. with 9,952 s/f of transactions

GFP continues leasing momentum at 322 Eighth Ave.

Zimmet Law Group signs 5,476 s/f lease at GFP Real Estate’s 515 Madison Ave.

Zimmet Law signs 5,476 s/f lease at GFP’s 515 Madison Ave.

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