M&T Realty Capital Corporation®
has closed a $15,975,000 Freddie Mac Target Affordable Housing forward commitment TEL loan for the new construction of a 111-unit senior housing property located in Montgomery County, MD.
At 68.8% LTV, the fixed-rate loan has a 30-month forward component, and followed by 17-year term and 40 year amortization period. In addition, the property benefits from various forms of secondary debt financing from Montgomery County and MD-Dept. of Housing and Community Development as well as a real estate PILOT.
The transaction was led by Senior Managing Director Robert N. Kaplan of M&T Realty Capital Corporation’s Baltimore, MD office.
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.