Keller Investment Properties will refinance a 13-property portfolio through a $718.5 million CMBS loan. Six are in Utah, four in Nevada and three in Arizona.
Multihousing News reports that a Nomura affiliate will provide a two-year, floating-rate, interest-only loan. Approximately $696.3 million will refinance existing debt, while $22.2 million will cover closing costs and reserves.
The collateral includes 12 multifamily communities and one student housing asset, totaling 3,321 units. The properties were completed between 1987 and 2022, with a weighted-average construction year of 2004. The collection’s weighted-average rent was $1,632 per unit.
Midland Loan Services, a division of PNC Bank, will be the master servicer, while Argentic Services Co. will act as the special servicer. Computershare Trust Co. will be the trustee and certificate administrator. BellOak LLC will serve as the operating advisor.
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