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CHATHAM, N.J. — M&T Realty Capital Corp. has provided a $12.1 million FHA-insured loan to refinance of a 108-bed skilled nursing facility in Chatham.
The loan was completed under the U.S. Department of Housing and Urban Development (HUD) 223(f) program. The 35-year, fully amortizing loan features a fixed rate of 3.26 percent. The borrower and name of facility were not disclosed.
Paula Quigley and Matt Pipitone of M&T Realty Capital’s Baltimore office, in collaboration with Jennifer Kooney of M&T Bank’s Tarrytown, N.Y. office, led the transaction. Quigley also serves as the FHA/HUD program manager for M&T Realty Capital Corp.