Dealmaker: M&T Realty Capital Provides $156M

M&T Realty Capital Corp., Baltimore, provided $155.8 million for multifamily and mixed-use properties in California, Texas, Washington and New York.

M&T closed a $61.4 million Freddie Mac loan to refinance a 300-unit garden apartment community in San Leandro, Calif. The 15-year, 4.08 percent fixed-rate loan included full term interest-only payments. Sandra DeFelice, Managing Director in the firm’s Baltimore office, arranged the financing.

M&T Managing Director Daniel Lynch closed two loans. In Dallas he secured $25 million to refinance a 280-unit garden-style multifamily property. Freddie Mac, McLean, Va., provided the 10-year, 4.19 percent fixed-rate loan. In Vancouver, Wash., Lynch arranged a $41 million bridge loan secured by a 270-unit apartment complex. The two-year floating-rate loan priced at 3.81 percent to start and included full-term interest-only payments.

Also in Texas, the company closed a $10.8 million Freddie Mac loan that refinanced a 168-unit affordable housing community in Dallas. The seven-year floating-rate loan was structured with full-term interest-only. The transaction was led by M&T Managing Directors John Taylor and Matthew Hodson. M&T Bank’s Commercial Banking Team Leader George Doerre and Relationship Manager Andrea Wagonseller also collaborated on the transaction.

M&T also provided $17.6 million in New York, including a $12.1 million Fannie Mae loan for a 310-unit affordable housing community in Syracuse and a $5.5 million Freddie Mac loan to refinance a Buffalo mixed-use property. Managing Director Edward “Ted” Yaeger and M&T Bank Senior Relationship Manager Eric Heffler structured a 10-year, 4.33 percent fixed-rate loan with two years of interest-only payments in Syracuse and a 10-year fixed-rate loan at 4.53 percent for the Buffalo asset.