KeyBank Community Development Lending and Investment (CDLI) provided a $35 million construction loan and $15.7 million in four percent LIHTC equity to finance the acquisition and rehabilitation of Cambridge Square Apartments, located in Monroeville, PA. KeyBank also arranged a $18 million permanent loan through the Fannie Mae forward MBS Tax-Exempt Bond (M.TEB) program. The $22 million of tax-exempt MTEB bonds were sold by KeyBanc Capital Markets. Cambridge Square consists of eight three-story residential buildings and one community building, consisting of 204 apartments. The tenant units are covered by a 20-year Section 8 HAP Contract. The 198 HAP units are reserved for families and individuals earning no more than 50 percent of area median income (AMI), while the remaining six units are LIHTC restricted at 60 percent of AMI.