M&T Realty Capital Corporation®
has closed a $29,751,500 FHA-insured loan for the construction takeout of a 126-unit multifamily property located in Herriman, UT. The loan was completed under the U.S. Department of Housing and Urban Development (HUD) Federal Housing Authority (FHA) 223(f) program.
At 80% LTV, the 35-year, 4.1% fixed-rate loan is fully amortizing.
The transaction was led by Managing Director’s Bob Kaplan and Marc Schaefer of M&T Realty Capital Corporation’s Baltimore, MD and Lake Oswego, OR offices. In collaboration with M&T Bank’s Commercial Credit Team Lead Ryan Warthen.
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.