- link Copy Url - [ Share on twitter ](https://twitter.com/intent/tweet?text=KeyBank Arranged Financing for the New Construction of Affordable Housing Apartments in Oklahoma City https://www.3blmedia.com/markdownify/node/234066?absolute=1&via=3blnews "link to 3 B L Media's Twitter") - [ Share on linkedin ](https://www.linkedin.com/shareArticle?mini=true&url=https://www.3blmedia.com/markdownify/node/234066?absolute=1 "link to 3 B L Media's Linkedin") - [ Share on facebook ](https://www.facebook.com/sharer/sharer.php?u=https://www.3blmedia.com/markdownify/node/234066?absolute=1 "link to 3 B L Media's Facebook") - [ email Share via email ](mailto:?subject=KeyBank Arranged Financing for the New Construction of Affordable Housing Apartments in Oklahoma City &body=ESG News from KeyBank https://www.3blmedia.com/markdownify/node/234066?absolute=1 "Share via email") [Sustainable Finance & Socially Responsible Investment](/CSR-News/sustainable-finance-socially-responsible-investment) # KeyBank Arranged Financing for the New Construction of Affordable Housing Apartments in Oklahoma City Dec 17, 2018 2:00 PM ET Campaign: [Key Supports Affordable Housing ](/news/campaign/key-supports-affordable-housing) ![](/sites/default/files/styles/carousel_2x/public/images/Council_Trail_Apartments_-_Rendering_.jpg) CLEVELAND, December 17, 2018 /3BL Media/ — KeyBank Real Estate Capital arranged a $3.9 million Fannie Mae, 9% Low-Income Housing Tax Credit (LIHTC) forward commitment permanent loan for Four Corners Development to finance the new construction of Council Trails Apartments. Council Trails Apartments is a 72-unit affordable housing property in Oklahoma City, OK comprised of four, three-story residential buildings. The Oklahoma Housing Finance Agency (OHFA) provided the 9% LIHTC equity allocation. The permanent loan is a Fannie Mae Delegated Underwriting and Servicing (DUS) mortgage-backed security (MBS) with a forward commitment of 24 months and one six-month extension option. It will convert to a 15-year term with a 35-year amortization schedule and is underwritten at an 86.2 percent loan-to-value (LTV) ratio and a 1.15 debt service coverage (DSC) ratio. Fred Dockweiler of KeyBank’s Commercial Mortgage Group and Stephen Sparks of KeyBank’s Community Development Lending and Investment team worked together on the financing. Additionally, Raymond James provided $6.9 million in tax credit equity for the construction of Council Trails Apartments. **About KeyBank Real Estate Capital** KeyBank Real Estate Capital is a leading provider of commercial real estate finance. Its professionals, located across the country, provide a broad range of financing solutions on both a corporate and project basis. The group provides interim and construction finance, permanent mortgages, commercial real estate loan servicing, investment banking and cash management services for virtually all types of income producing commercial real estate. As a Fannie Mae Delegated Underwriter and Servicer, Freddie Mac Program Plus Seller/Servicer and FHA approved mortgagee, KeyBank Real Estate Capital offers a variety of agency financing solutions for multifamily properties, including affordable housing, seniors housing and student housing. KeyBank Real Estate Capital is also one of the nation’s largest and highest rated commercial mortgage servicers. **About Key Community Development Lending/Investment** KeyBank Community Development Lending and Investment (CDLI) helps fulfill Key’s purpose to help clients and communities thrive by financing projects that stabilize and revitalize communities. Experts in complex tax credit lending and investing, Key is one of a handful of affordable housing lenders in the country with a platform that brings together balance sheet, equity, and permanent loan offerings. For its ability to lend to, invest in, and serve its communities – especially low-to-moderate income communities – KeyBank has earned nine consecutive “Outstanding” ratings on the Community Reinvestment Act exam, from the Office of the Comptroller of the Currency. **About KeyCorp** KeyCorp's roots trace back 190 years to Albany, New York. Headquartered in Cleveland, Ohio, Key is one of the nation's largest bank-based financial services companies, with assets of approximately $138.8 billion at September 30, 2018. Key provides deposit, lending, cash management, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of over 1,100 branches and more than 1,500 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. For more information, visit [https://www.key.com/](https://www.key.com/personal/index.jsp). KeyBank is Member FDIC. Media Contact: Laura Mimura, 216.471.2883, \### [![KeyBank Logo](/sites/default/files/Clients/Screen_Shot_2016-05-13_at_10.27.28_AM.png)](/profiles/keybank) ### More from KeyBank ###### [KeyBank Foundation Supports EMMA and Beechwood Businesses with $300,000 Investment in Connected Communities](/news/keybank-foundation-supports-emma-and-beechwood-businesses-300000-investment-connected) Apr 8, 2026 2:00 PM ET ###### [KeyBank Teammates Take the Field for Cleveland Guardians Home Opener](/news/keybank-teammates-take-field-cleveland-guardians-home-opener) Apr 8, 2026 9:00 AM ET ###### [Americans Respond to Financial Pressures With Smarter Spending and Increased Saving, New KeyBank Pulse Poll Finds](/news/americans-respond-financial-pressures-smarter-spending-and-increased-saving-new-keybank-pulse) Apr 6, 2026 9:00 AM ET ###### [KeyBank Foundation Awards $200,000 to Capital for Change To Expand Affordable Housing and Community Development in Connecticut](/news/keybank-foundation-awards-200000-capital-change-expand-affordable-housing-and-community) Apr 2, 2026 9:00 AM ET ###### [Northeast Ohio Business Owner Avoids $5,000 Loss Thanks to KeyBank Fraud-Prevention Program](/news/northeast-ohio-business-owner-avoids-5000-loss-thanks-keybank-fraud-prevention-program) Mar 31, 2026 9:00 AM ET ###### [New Junior Achievement Experiential Learning Center, Presented by KeyBank, Focuses on Workforce Readiness ](/news/new-junior-achievement-experiential-learning-center-presented-keybank-focuses-workforce) Mar 30, 2026 9:00 AM ET ###### [KeyBank & CEI Partnership Brings Growth to Maine](/news/keybank-cei-partnership-brings-growth-maine) Mar 27, 2026 9:15 AM ET ###### [Key Private Bank Leader Cathy O’Malley Kearney Named Chair of Cleveland Foundation Bank Trustees](/news/key-private-bank-leader-cathy-omalley-kearney-named-chair-cleveland-foundation-bank-trustees) Mar 26, 2026 9:00 AM ET