Albany, N.Y. — KeyBank Real Estate Capital has secured a $29.4 million refinancing for Auden Albany Student Housing, a 322-bed community serving students attending the University at Albany — State University of New York. The fixed-rate, Fannie Mae loan is structured with a 12-year term and a 36-month, interest-only period. Erik Storz and Pete Rand of KeyBank structured the financing on behalf of the borrower, DMG Investments. The community offers units with bed-to-bath parity alongside shared amenities including a fitness center, game room, yoga studio and clubhouse.
Fannie Mae
Freddie Mac, Fannie Mae Enact 90-Day Financial Relief Plan for Multifamily Borrowers, Tenants
by Katie Sloan
Washington, D.C. — Freddie Mac and Fannie Mae have separately announced nationwide initiatives to provide financial relief for their multifamily borrowers and tenants affected by the outbreak of coronavirus disease of 2019 (COVID-19). The two government-sponsored enterprises are enacting programs that allow their borrowers to defer monthly payments for up to 90 days by showing hardship as a consequence of COVID-19 and by gaining lender approval. Additionally, participants in the program must agree to not evict their renters who are facing financial hardship due to the current health crisis. The agencies anticipate …
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