M&T Realty Capital Corporation®
has closed a $49,320,000 Freddie Mac loan for the acquisition of a 1,074-unit multifamily portfolio located in Erie, PA.
The 10-year, 4.79% fixed-rate loan is structured with five years of interest-only payments, followed by a 30-year amortization.
The transaction was led by Managing Director Michael Edelman of M&T Realty Capital Corporation’s New York office, in collaboration with M&T Bank Commercial Senior Relationship Manager Joe Tumonis. Mr. Edelman also serves as the Agency Program Manager for M&T Realty Capital Corporation.
M&T Realty Capital Corporation is a Freddie Mac Multifamily Approved Seller/Servicer for Conventional and Seniors Housing Loans, and is authorized to originate multifamily loans to be sold to Freddie Mac and service multifamily loans on behalf of Freddie Mac.
Under the Freddie Mac program
, M&T Realty Capital Corporation originates and services loans for apartment properties, including market-rate properties, seniors housing, student housing, cooperatives, and certain affordable housing projects.
For specific loan information on this program, please call us at 1-800-737-2344 or request a loan quote
All loans and all terms referenced herein are subject to receipt of a complete application, credit approval, and other conditions.