M&T Realty Capital Corporation®
has closed a $16,400,000 Freddie Mac Optigo® Conventional Loan for the construction takeout of a 72-unit multifamily property located in Bayonne, NJ.
At 66.67% LTV, the 15-year, fixed-rate loan is structured with 5-years of interest-only payments.
The transaction was led by Managing Director John Taylor of M&T Realty Capital Corporation’s New Jersey office, in collaboration with Commercial Senior Relationship Manager Colleen Foy of M&T Bank’s Princeton, NJ office.
M&T Realty Capital Corporation is a Freddie Mac OptigoSM
Lender 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 OptigoSM program
, M&T Realty Capital Corporation originates and services loans for apartment properties, including market-rate properties, seniors housing, assisted living, 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.