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April 20, 2017
KeyBank has announced a $15.5 million bridge-to-HUD loan for Royal Hills Apartments in Renton. Amost all of the 284 units are reserved for individuals and families making at or below 45 percent of area median income. Some are also set aside for disabled renters at 50 percent of AMI. The property is managed by Preservation Partners Development of Torrance, California. PDP's Bill Szymczak said in a statement, “Our longstanding effort to serve the Renton community is bolstered by KeyBank's financial support.”
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