Dealmaker: M&T Realty Capital Corp. Provides $124M for Multifamily
M&T Realty Capital Corp., Baltimore, closed $123.9 million in Fannie Mae and Freddie Mac multifamily loans.
In Grayson, Ga., the firm closed a $65.5 million Fannie Mae loan that refinanced a 414-unit property. The 10-year, 2.9 percent fixed-rate loan was structured with three years of interest-only payments.
Joe DeCarlo, Executive Managing Director in MTRCC’s Portland, Ore. office, led the transaction.
DeCarlo also closed a $33.4 million Fannie Mae acquisition loan for a 212-unit multifamily property in Sandy Springs, Ga. The 10-year fixed-rate loan also included three years of interest-only payments and priced at 2.9 percent.
MTRCC Managing Director John Higinbothom closed a $12.7 million Fannie Mae loan that refinanced a 208-unit Indianapolis apartment property. The 10-year fixed-rate loan with a 30-year amortization schedule came with a 3.67 percent interest rate.
In Jersey City, N.J., MTRCC has closed a $12.39 million Freddie Mac Optigo conventional loan to refinance a 55-unit multifamily community. The 71.2 percent loan-to-value, 15-year fixed-rate loan included five years of interest-only payments.
The transaction was led by Managing Director John Taylor of MTRCC’s New Jersey office, who worked with Commercial Senior Relationship Manager Colleen Foy of M&T Bank in Princeton, N.J.