Dealmaker: M&T Realty Capital Arranges $139M

M&T Realty Capital Corp., Baltimore, closed loans totaling $139.1 million for multifamily, office, industrial and manufactured housing assets in Florida, Pennsylvania and New York.

In Vero Beach, Fla., the firm arranged a $25 million Fannie Mae Near-Stabilization loan for a 159-unit garden apartment community. M&T Realty Capital Managing Director David Eisemann and Relationship Manager Rachel Lindeman arranged the 10-year, 4.45 percent fixed-rate loan with 30 months of interest-only payments.

M&T Realty Capital Corp.’s CKPP Division arranged $40 million in life insurance company funds to refinance a 737,000-square-foot industrial and office portfolio in Lancaster, Pa. Executive Managing Director Don Pettit and Senior Managing Director Dan Panichelli of M&T Realty Capital CKPP arranged the 10-year fixed-rate loan at 3.51 percent in collaboration with M&T Bank Senior Relationship Manager Steven Deck.

The firm also closed $74.1 million in Fannie Mae loans to refinance 11 upstate New York manufactured housing communities. The new financing retired a credit facility led by M&T Bank that had financed the properties’ initial acquisition.

Horizon Land Co. and Federal Capital Partners own the 2,391-unit manufactured housing unit portfolio in a joint venture. All properties in the portfolio are now secured with 10-year floating-rate loans at 3.38 percent. The loans included five years of interest-only payments followed by 30-year amortization schedules.

M&T Realty Capital Managing Director Carole Stafford arranged the transaction with Senior Commercial Real Estate Relationship Manager Jeffrey Prather.