Joint venture partners The Dolben Co. and Atapco Properties has secured $56.3 million in permanent financing for an apartment community in Prince George’s County, Md. KeyBank Real Estate Capital sourced the funding through Freddie Mac’s Lease-Up Program which refinanced the construction debt for the development, the Verde at Greenbelt Station in Greenbelt, Md. Located less than a mile from the Greenbelt Metro Station, the project achieved LEED Gold certification, featuring energy-efficient strategies such as a solar array, tankless hot water heaters and efficient heat pumps. “Having the ability to immediately lock rate and then fund prior to stabilization was an ideal financing option for us,” said Deane Dolben, president of The Dolben Co.
