M&T Realty Capital Corporation®
has closed a $29,177,000 Freddie Mac loan for the permanent financing of a recently rehabilitated historic building in Menands, NY. The former office and loft warehouse was rehabbed into 145 market-rate apartment units. M&T Bank provided the prior construction financing for the project.
At 76% LTV, the 7-year, 3.79% floating-rate loan is structured with two years of interest-only payments, followed by a 30-year amortization.
The transaction was led by Managing Directors Robert Kaplan and Carole Stafford of M&T Realty Capital Corporation’s Baltimore office, in collaboration with Associate Relationship Manager Kevin Healy of M&T Bank’s Albany office. Mr. Kaplan also serves as the Assistant National Production 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 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.