KeyBank Real Estate Capital secured a $57 million fixed-rate loan with a national life company to refinance The Steadman Apartment Homes, a newly completed multifamily property located in Carmel, Indiana.
The loan proceeds will be used to refinance outstanding construction debt. Construction was completed in 2024, and as of March 2025, the property was 60% leased. Samantha Miller and Greg Halvorson of KeyBank Real Estate Capital’s Commercial Mortgage Group arranged the financing.
The Steadman Apartment Homes is a 263-unit mid-rise apartment complex completed in 2024. The unit mix includes 130 one-bedroom units, 112 two-bedroom units, and 21 three-bedroom units. Community amenities include a state-of-the-art fitness center, coworking and conference rooms, a lounge, and a coffee bar.
Cityscape Residential, a full-service real estate development and construction firm focused on multifamily residential communities, is the project sponsor.
The post KeyBank Secures $57M Financing for Multifamily in Indiana appeared first on Connect CRE.
​Â
