KeyBank Provides $21.5 Million of Construction Financing for Affordable Housing in Ypsilanti, MI
CLEVELAND, November 13, 2025 /3BL/ – KeyBank Real Estate Capital arranged a $21,472,000 non-recourse, Fannie Mae first mortgage loan secured by a 184-unit, apartment complex known as Schooner Cove III, located in Ypsilanti, MI. The fixed rate loan is structured with a 15-year term, and subsequent to a 120-month interest only period, amortizes on a 360-year schedule.

