Luxury Multifamily Community Receives $40M Loan
MultiHousing News | May 30, 2018
Peyton Stakes, a luxury apartment community in Nashville, Tenn., has received a $39.9 million Fannie Mae first-mortgage loan. KeyBank Real Estate Capital’s Robert Prouty arranged the 10-year, fixed-rate, interest-only loan on behalf of the undisclosed borrower. The financing was used to facilitate the acquisition of the property. According to Yardi Matrix data, the 2017-built, 249-unit community owned by Proffitt Dixon Partners was 90 percent occupied at the time of the financing. Peyton Stakes encompasses a five-story residential building and a parking garage.