M&T Realty Capital Corporation®
have announced today that they have closed a $6,200,000 Freddie Mac Optigo® Targeted Affordable Housing forward commitment loan with Aquinas Housing Corporation for the renovation of 106-units of affordable housing in four buildings in the Bronx, NY.
Criscuolo Court Apartments offer 106 one-, two-, and three-bedroom affordable units for rent in four buildings. Property amenities include elevator and wheelchair access. Criscuolo Court Apartments property is located conveniently for neighborhood services, walking distance to stores, restaurants, banks and local school. It is also easily accessed by public transportation.
Steven Seltzer, Executive Director of Aquinas Housing Corporation said “Aquinas expresses its gratitude to M&T Realty Capital Corporation for their participation as the permanent lender in this project. The renovated project will benefit our tenants and the community in ensuring the quality of our housing”
This transaction was led by managing director Sean Cullen of M&T Realty Capital Corporation’s New York, NY office.
Founded in 1981, Aquinas Housing Corporation (AHC) is a community-based not-for-profit agency that is dedicated to developing, promoting and improving diverse types of affordable housing and economic development initiatives in the East Tremont/ West Farms/ Crotona Park North neighborhoods of the Bronx. AHC works closely with government agencies, foundations and private enterprises to secure financial and technical support to empower all community residents and tenants. In its history AHC provides educational, occupational and social programs to enhance self-esteem, self- reliance and community ownership. AHC currently owns approximately 1300 units of affordable housing.
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.