Dealmaker: M&T Realty Capital Corp. Provides Over $200M for Queens Property

(Image courtesy of M&T RCC)

M&T Realty Capital Corp., Baltimore, provided $204.95 million in financing for a multifamily property located in Long Island City in Queens, N.Y.

The Fannie Mae loan was originated by Michael Casey, Vice President of M&T RCC Loan Originations, in the New York office on behalf of the borrower, TF Cornerstone.

“It was an incredible opportunity to work with a top-class operator on financing one of the most iconic buildings in Long Island City. We thoroughly enjoyed every minute of working with the TF Cornerstone team,” said Casey. “The full-term IO offered by Fannie Mae in tandem with 35-Yr AM offered the borrower a very competitive structure. I’d like to thank Michael Jean Pierre, Head of M&T RCC Capital Markets, who was instrumental in rate locking the transaction in a matter of hours post-application in a very competitive rate environment.”

The property features 584 units, a ground-floor retail space and a number of amenities. It is LEED-certified.