KeyBank Provides $56M in Construction Financing for Ohio Affordable Seniors Housing Project
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KeyBank Provides $56M in Construction Financing for Ohio Affordable Seniors Housing Project
GALLOWAY, OHIO — KeyBank Community Development Lending and Investment (CDLI) has provided a $16.5 million taxable construction loan, a $9.4 million federal Low Income Housing Tax Credit (LIHTC) equity investment and an $8.2 million state LIHTC investment for the construction of Clover Glen II in Galloway near Columbus. National Church Residences is developing the 96-unit affordable housing project for seniors age 55 and older. KeyBank Commercial…
Keybank Provides $56M in Financing for Midwest Seniors Housing
KeyBank Community Development Lending and Investment (CDLI) provided a $16.5 million taxable construction loan, a $9.4 million federal LIHTC equity investment, and a $8.2 million state LIHTC investment on behalf of National Church Residences to finance the construction of Clover Glen II, a 96-unit affordable housing project for seniors in Galloway, Ohio. KeyBank Commercial Mortgage Group also provided a Freddie TEL permanent loan of $8.2 millio…
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