Lenders Sign Up for Affordable Housing in Denver

KeyBank Community Development Lending & Investment has provided a $34.1 million loan to Gorman & Co. for the acquisition and redevelopment of The Colburn Apartments, an affordable housing complex in Denver.

The financing package includes $10.8 million LIHTC equity investment, $15 million KeyBank construction loan and an $8.3 million Freddie Mac tax exempt loan. Kelly Frank of KeyBank’s CDLI team arranged the financing.

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