BALTIMORE, MD - M&T Realty Capital Corporation® provided a $21,590,000 bridge loan for NB Affordable’s acquisition of a 337-unit affordable housing property located in Athens, OH. The firm purchased the asset for $24,500,000. At 85% LTC, the 2-year, adjustable-rate loan bridge loan is interest only.
The property, Campus Heights Apartments, is located conveniently near Ohio University and features a brand-new clubhouse, an Amazon Hub, and a pet-friendly environment. Campus.
BALTIMORE, MD - 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.