KeyBank Community Development Lending and Investment provided a $8.6 million equity bridge loan and $13.1 million in four percent Federal LIHTC equity for the acquisition and rehabilitation of Skyline View Apartments in Layton, UT. The project also received permanent financing from KeyBank Real Estate Capital (KBREC), which secured a $24.2 million Freddie Mac tax-exempt loan (TEL). Skyline View Apartments is a three-property, 112-unit affordable housing community available to low-income families earning no more than 50 and 60 percent of the area median income and is subsidized by a Section 8 Housing Assistant Payment (HAP) Contract.
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