M&T Realty Capital Corporation®
has arranged a $84,875,000 loan through one of its life insurance company relationships for a Construction/Perm loan for a 319-unit multifamily property located in Boynton Beach, FL.
The financing is 65% LTC for a 12-year term with 5-years of interest only during construction followed by a 30-year amortization at 4.25% fixed for the entirety of the term. The borrowers will pay interest for the proceeds drawn during the construction period.
The transaction was led by Managing Director John Taylor of M&T Realty Capital Corporation’s Florham Park, NJ office, in collaboration with M&T Bank Commercial Senior Relationship Manager Melissa Govette in M&T Bank’s North Palm Beach, FL office.
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
For more information on financing options, 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.