Multifamily property in California receives $39.4 million to refinance
KeyBank Real Estate Capital, a nationwide commercial real estate lender, is providing $39.4 million to refinance a multifamily property in southern California. The loan is backed by Fannie Mae. KeyBank originated the loan for Golden West Properties which owns the Admiralty Apartments, a 172-unit property in Marina del Rey, Calif. Earlier this year, KeyBank provided a total of $10 million in loans backed by the government sponsored enterprises to refinance two commercial properties in the Northeast. KeyBank Real Estate Capital is the lending arm of KeyCorp, a Cleveland-based financial services company. As of June 30, the company had assets totaling $94,265 and loans totaling $54,953. Write to Christine Ricciardi.