News & Transactions

M&T Realty Capital Corporation Provides $6 Million in Financing for Multifamily Property in New York State
M&T Realty Capital Corporation® has closed a $6,000,000 affordable Fannie Mae loan for the refinance of a 40-unit multifamily property located in Poughkeepsie, NY.

The 15-year, 1.25% fixed-rate loan is structured with 6 years of interest only followed by 30-years of amortization. M&T Realty structured the deal to take advantage of required affordability components at the property. This led to a competitive rate and deal structure.

“In a time of uncertainty, the M&T RCC team was able to push this project over the finish line.  The project was complex, inclusive of two government agencies, and we were able to close just prior to any major spikes in the interest rates”, states Baxter Vice President Eric Baxter.

The transaction was led by President Michael Edelman and Senior Vice President Robert Barry of M&T Realty Capital Corporation’s New York City office, in collaboration with Commercial Senior Relationship Manager David DeVito of M&T Bank’s Fishkill, NY office.

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.

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