M&T Realty Capital Corporation®
has closed a $24,542,000 Fannie Mae loan for the refinance of a 132-unit multifamily property located in Patchogue, NY.
The 15-year, 4.07% 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 John Taylor of M&T Realty Capital Corporation’s Florham Park, NJ office, in collaboration with Commercial Banking Team Leader Michael McCarthy of M&T Bank’s Long Island office.
M&T Realty Capital Corporation has been a Fannie Mae-approved Delegated Underwriting and Servicing (DUS®) lender since 1989. As a Fannie Mae DUS® lender
, M&T Realty Capital Corporation originates and services loans for apartment properties, including seniors housing, student housing, manufactured housing communities, cooperatives, and affordable housing.
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.