KeyBank Real Estate Capital has successfully secured a $34.1 million Fannie Mae non-recourse, first mortgage loan for the purchase of Courthouse Green, a 266-unit garden-style apartment complex located in Chesterfield, Virginia. The property boasts one-, two-, and three-bedroom units spread across 21 acres and 34 buildings. This financing is structured as a fixed-rate Fannie Mae loan with full-term interest-only for a period of ten years.
The acquisition was completed by Jones Street Investment Partners, an esteemed private equity real estate firm headquartered in Boston that specializes in multifamily assets within the Northeast and Mid-Atlantic regions of the United States.
Leading this financing deal were Chris Black and Sam Morrison from KeyBank Real Estate Capital who expertly arranged the funding on behalf of their client.
This news highlights yet another successful transaction within Richmond’s thriving multi-family housing market without mentioning any specific organizations or publications such as Connect CRE or its regional counterparts.
