KeyBank Secures $57M Financing for Multifamily in Indiana
KeyBank Real Estate Capital secured a $57 million fixed-rate loan with a national life company to refinance The Steadman Apartment Homes, a newly completed multifamily property located in Carmel, Indiana.
The loan proceeds will be used to refinance outstanding construction debt. Construction was completed in 2024, and as of March 2025, the property was 60% leased. Samantha Miller and Greg Halvorson of KeyBank Real Estate Capital’s Commercial Mortgage Group arranged the financing.
The Steadman Apartment Homes is a 263-unit mid-rise apartment complex completed in 2024. The unit mix includes 130 one-bedroom units, 112 two-bedroom units, and 21 three-bedroom units. Community amenities include a state-of-the-art fitness center, coworking and conference rooms, a lounge, and a coffee bar.
Cityscape Residential, a full-service real estate development and construction firm focused on multifamily residential communities, is the project sponsor.
Other News
Queens’ Tallest Tower Reaches 90% Leased, Adds First Retail Tenants
BLDG Management Co., Inc announced that The Orchard, Queens’ tallest tower, has surpassed 90% leased across its 824 units nine months after launching residential leasing. The milestone occurs as the 70-story Long Island City development recently signed its first three retail tenants: K-beauty brand Tokimo, Japanese tea and beverage brand Mollytea and financial technology platform...
Learn more
80-Unit Seniors Housing Development Opens in Suburban Chicago
Leyden Senior Apartments, a new four-story independent senior living development in Franklin Park, recently opened. Located at 2506 N. Mannheim Road, Leyden Senior Apartments offers one- and two-bedroom residences. The adjacent newly constructed Carl Fiorito Senior Center will be available to the entire community. Owned by Leyden Apartments LP, Leyden Senior Apartments was designed by...
Learn more
312-Unit Multifamily in Indiana Changes Hands
Northmarq’s Investment Sales team, led by Bobby Schiavone, Jordan Arand and Adam Klenk, led the sale of The Bend Apartments, a 312-unit garden apartment community located at 1909 Greentree Blvd. in Clarksville, Indiana. Northmarq represented the seller, a regional multifamily developer. The buyer was a private investor. “The Bend generated significant investor demand, further proving...
Learn more
Brokers
View All-
Remax Real Estate Professionals
Re/Max Real Estate Professionals
-
Jared Ennis
Central CA Commercial | California
-
Rick Recckio
Recckio Real Estate & Development
-
Greg Corbin
Northgate Real Estate Group
Lenders
View AllManagement
View All-
Essex Property Trust, Inc.
California
-
Josh A
California
-
Bob Tuteur
-
Andrew Schildcrout