KeyBank Delivers $78M for Sacramento Development
Sacramento-based CFY Development secured $78 million of financing from KeyBank Community Development Lending and Investment (CDLI) and KeyBank Real Estate Capital (KBREC) for the development of a 159-unit affordable housing property in Sacramento. CDLI provided a $54.5 million construction loan, and KBREC secured a $23.3 million tax exempt loan from Freddie Mac with a fixed-rate forward commitment.
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