M&T Realty Capital Corporation®
has closed a $79,500,000 FHA-insured loan for the refinance of a 458-bed skilled nursing facility located in Blackwood, NJ. The loan was completed under the U.S. Department of Housing and Urban Development (HUD) Federal Housing Authority (FHA) 232/223(f) program.
The 30-year, 3.28% fixed-rate loan is fully amortizing. It is the second-largest single transaction closed by the Office of Residential Care Facilities (ORCF) during HUD’s FY2019, which ended September 30, 2019.
The transaction was led by Managing Directors Paula Quigley and Matthew Pipitone of M&T Realty Capital Corporation’s Baltimore office, in collaboration with Commercial Senior Relationship Manager Aaron Anglada of M&T Bank’s Paramus, NJ office. Ms. Quigley also serves as the FHA/HUD program manager for the company.
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.