Dealmaker: M&T Realty Capital Corp. Provides $156M in Refi Funds

M&T Realty Capital Corp., Baltimore, provided a $55.2 million Freddie Mac loan that refinanced Henson Creek Apartment Homes in Temple Hills, Md.

Morgan Properties, King of Prussia, Pa., received a 10-year, 3.88 percent fixed-rate loan with six years of interest-only payments followed by a 30-year amortization schedule.

M&T Realty Capital Managing Directors John Taylor and Matt Hodson of the firm’s Florham Park, N.J. and Falls Church, Va. offices, respectively, closed the transaction. Senior Relationship Manager Kevin Barrett from M&T Bank’s Philadelphia office collaborated on the transaction.

Henson Creek Apartment Homes contains 450 garden-style units with one-, two- and three-bedroom floor plans.

M&T Realty Capital also provided a $64 million Fannie Mae loan to refinance an 840-unit multifamily portfolio in York, Pa. The 10-year, 4.10 percent fixed-rate loan was structured with five years of interest-only payments followed by a 30-year amortization.

Managing Director Carole Stafford led the transaction from the firm’s Baltimore office.

In Brooklyn, N.Y., M&T Realty Capital closed a $36.7 million FHA-insured loan that refinanced a 380-bed skilled nursing facility. The 35-year FHA 232/223(f) program loan priced at 3.3 percent and is fully amortizing.

HUD’s Section 232 program provides mortgage insurance for residential care facilities such as assisted living facilities, nursing homes, intermediate care facilities, and board and care homes.

M&T Realty Capital Managing Directors Paula Quigley and Matt Pipitone arranged the financing in collaboration with M&T Bank Senior Relationship Manager Jennifer Kooney. Quigley serves as the firm’s FHA/HUD program manager.