KeyBank Real Estate Capital secured $40.2 million of fixed-rate Fannie Mae financing for The Benchmark Group, a real estate developer, acquirer and manager based in Amherst, New York, to refinance three multifamily housing properties in Florida, Michigan and South Carolina: Autumn Woods in Sterling Heights, Michigan; Huntington Place in Columbia, South Carolina; and Village at University Square in Tampa, Florida.
Built in 1973, Autumn Woods is an affordable 286-unit garden-style apartment community consisting of 42 one- and two-story buildings on 30 acres of land. Welcoming families, the community offers one-, two- and three-bedroom floorplans and amenities including playgrounds, a basketball court and proximity to shopping.
Huntington Place includes eight one- and three-story garden-style buildings built in 1998 on 17 acres of land in a secluded, wooded setting within walking distance of the USC School of Medicine. Floorplans for the 192-unit complex include spacious two- and three-bedroom options. The pet-friendly property features a resort-style pool, 24-hour cardio room, walking trails and barbeque areas.
The 122-unit garden-style Village at University Square was built in 1982, sits on six acres and comprises five two-story buildings. The affordable community offers one-, two- and three-bedroom floorplans complete with all appliances. Conveniently located near schools and shopping, the gated community welcomes families and features a playground and basketball court.
Dirk Falardeau of KBREC’s Commercial Mortgage Group and David Pyc of KBREC’s Income Property Group structured the financing.
