Lenders Sign Up for Affordable Housing in Denver
KeyBank Community Development Lending & Investment provides a $34 million loan for the acquisition and redevelopment of an affordable housing complex in Denver.
The financing package includes $10.8 million LIHTC equity investment, $15 million KeyBank construction loan and an $8.3 million Freddie Mac tax exempt loan. Kelly Frank of KeyBank’s CDLI team arranged the financing.
Originally a hotel, the Colburn Apartments has 91 studio units, plus one manager’s unit.