KeyBank Real Estate Capital Arranges $57 Million Refinance Loan For Cityscape Residential's Multifamily Asset

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.