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Keystone secures $22M permanent loan for Belmont multifamily
The deal is backed by Voya Financial and priced at a fixed 5.47% rate, reflecting ongoing lending interest in well-located California apartments.
Keystone arranged a $22.0 million permanent loan for a multifamily property in Belmont, San Mateo County, according to ConnectCRE.
The financing was provided by Voya Financial at a fixed interest rate of 5.47%, and the borrower was not disclosed.
Keystone said the transaction reflects continued lender appetite for well-located multifamily assets in supply constrained California markets, and highlighted its ability to source competitive, long term institutional financing for clients.
The company added that Belmont is a sought after residential submarket on the San Francisco Peninsula, supported by strong employment fundamentals, limited housing supply, and steady renter demand tied to nearby technology and life sciences employers, and noted that it delivered a structure intended to meet the borrower’s long term objectives.