Keystone Arranges $22M Permanent Loan for Belmont Multifamily
Keystone Mortgage Corp. recently closed on a $22,000,000 permanent loan on a multifamily property located in Belmont. The financing was provided by Voya Financial at a fixed interest rate of 5.47%. The borrower was not disclosed.
The transaction reflects continued lender appetite for well-located multifamily assets in supply-constrained California markets, and demonstrates Keystone’s ability to source competitive, long-term institutional financing for its clients, the company said. “We are pleased to have arranged this financing on behalf of our client,” said managing director Nick Viscount at Keystone. “Voya demonstrated a strong commitment to this asset and we were able to deliver a highly competitive structure that met the borrower’s long-term objectives.”
Belmont is a sought-after residential submarket situated in San Mateo County on the San Francisco Peninsula. It benefits from strong employment fundamentals, limited housing supply and consistent renter demand driven by proximity to major technology and life sciences employers throughout the Bay Area, according to Keystone.
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Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
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Essex Property Trust, Inc.
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout