M&T Funds $28.5M Refinancing for Assisted Living Facility in Virginia

MECHANICSVILLE, Va. — M&T Realty Capital Corp. has closed a $28.5 million Fannie Mae Seniors Housing loan for the refinance of a 106-unit assisted living facility located in Mechanicsville.

The 10-year, 4.6 percent, fixed-rate loan is structured with three years of interest-only payments followed by a 30-year amortization.

Matthew Pipitone and Steve Muth of M&T Realty Capital Corp.’s Baltimore and Richmond offices, respectively, arranged the financing. Nick Gent of M&T Bank’s Washington, D.C. office also collaborated on the transaction.