KeyBank Arranges $74.6M Loan For Acquisition Of Merrillville Multifamily Property By The Beitel Group

The Beitel Group has acquired the "Lakes at 8201," a 628-unit multifamily apartment complex in Merrillville, Indiana. Situated on a 36.66-acre lot, the property offers a mix of one-, two-, and three-bedroom units, along with various amenities. The acquisition was made possible through a $74.6 million non-recourse acquisition loan arranged by KeyBank Real Estate Capital (KBREC), on behalf of Joseph Tinti and John Ward.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $74,600,000
• Units: 628
• Acres: 36.66
• Lender: KeyBank Real Estate Capital - John Ward & Joseph Tinti
• Landlord: The Beitel Group

KeyBank Real Estate Capital (KBREC) facilitated the financing for the acquisition of Lakes at 8201. Joseph Tinti and John Ward, representing KBREC, arranged a $74.6 million Freddie Mac first mortgage loan for the purchase of the property. The Beitel Group, as the new landlord, looks forward to managing and maintaining this expansive multifamily asset in Merrillville, Indiana.