M&T Realty Capital Corporation®
has arranged an $18,500,000 life insurance company loan for the refinance of a 178-room hotel located in Rehoboth, DE.
At 46% LTV, the 10-year, 3.89% fixed-rate loan is structured with a 25-year amortization.
The transaction was led by Executive Managing Director Donald Pettit and Senior Managing Director Kevin Collins of M&T Realty Capital Corporation’s Philadelphia office, in collaboration with Commercial Senior Relationship Manager Chris Willett of M&T Bank’s Dover, DE office. Mr. Pettit and Mr. Panichelli both serve as program managers for the company’s life insurance company and CMBS financing programs.
M&T Realty Capital Corporation works with a broad network of institutional and life insurance company investors
to provide mortgage financing for commercial income-producing properties—office, industrial, retail, and hotel (on an exception basis)—as well as for multifamily properties.
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.