KeyBank Community Development Lending and Investment (CDLI) provided $ 23.3 million in construction loans and invested $10.7 million in LIHTC financing, and KeyBank’s Commercial Mortgage Group also arranged $16.2 in Freddie Mac TEL permanent financing for the construction of two affordable multifamily housing projects in Los Angeles. The sponsor and developer, HVN Development also provided loans in the amount of $2.4 million for these two projects. California Housing Finance Agency (CHFA) will also issue $14.4 million of Multifamily Housing Revenue Bonds, as well as $7 million in recycled bonds to fund the permanent loans.
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