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KeyBank Real Estate Capital Arranges $57 Million Refinance Loan For Cityscape Residential's Multifamily Asset
FINANCED
$57,000,000
Indiana
See Similar DealsMultiFamily
Financed 10/22/2025
FINANCED
KeyBank Real Estate Capital Arranges $57 Million Refinance Loan For Cityscape Residential's Multifamily Asset
11325 Spring Mill Road
See Similar DealsMultiFamily
Financed 10/22/2025
Summary
INDIANA
Asset Type:MultiFamily
Transaction Type:Loan
The Steadman Apartment Homes is a multifamily asset located at 11325 Spring Mill Road in Carmel, IN, comprising 263 units. The property was developed by Cityscape Residential and was completed in 2024, with a current occupancy rate of 60% at the time of refinancing.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $57,000,000
- Loan Type: Refinance
- Loan Terms: Fixed-rate
- Landlord: Cityscape Residential
- US Market: Carmel, IN
- Brokers: Samantha Miller & Greg Halvorson - KeyBank Real Estate Capital
KeyBank Real Estate Capital arranged the $57 million loan with a national life insurance company for refinancing purposes. This transaction is representative of the collaborative efforts of brokers Samantha Miller and Greg Halvorson, who played a crucial role in facilitating the arrangements for this financing deal.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$57,000,000.00
Monthly NOI$380,000.00
Monthly Debt Service$360,278.77
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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