SPRING LAKE, N.J., NEW YORK CITY and YORKTOWN, Va. — M&T Realty Capital Corp. has provided three loans totaling $84.6 million for seniors housing communities in New Jersey, New York and Virginia.
In the first transaction, M&T provided a $16.1 million Fannie Mae Seniors Housing loan refinance a 106-unit seniors housing property in Spring Lake. The 15-year, 4.66 percent fixed-rate loan is structured with four years of interest-only payments followed by 30-year amortization.
Paula Quigley and Matthew Pipitone of M&T Realty Capital Corp.’s Baltimore office, in collaboration with Aaron Anglada of M&T Bank’s Paramus, N.J. office, led the transaction.
In the second transaction, M&T provided a $40.5 million FHA-insured loan to refinance a 300-bed skilled nursing facility in Staten Island. The fully amortizing loan features a 35-year term, 3.9 percent fixed rate and 60 percent loan-to-value ratio.
Quigley and Pipitone again led the transaction, this time with Jennifer Kooney of M&T Bank’s Tarrytown office.
In the final transaction, M&T provided a $28.4 million Freddie Mac Optigo Seniors Housing Loan to refinance a 104-unit seniors housing property located in Yorktown. At 70 percent loan-to-value, the 10-year, fixed-rate loan is structured with three years of interest-only payments followed by a 30-year amortization.
Pipitone led the transaction along with Steven Muth of M&T Realty Capital Corp.’s Richmond, Va., office. Nick Gent of M&T Bank’s Washington, D.C., office also collaborated on the transaction.