M&T Realty Capital Corporation Arranges First Freddie Mac Small Loan
M&T Realty Capital Corporation announced today that it has arranged its first Freddie Mac small loan with Sabal Financial Group, L.P., a Freddie Mac-approved Small Balance Loan (SBL) lender.
The $1,031,000 loan was used for the refinance of 25 North Franklin Street, a 31-unit garden apartment property located in Pottstown, PA. At 75% LTV, the 5-year, 4.25% fixed-rate loan is structured with 30 years of amortization.
The transaction was led by M&T Realty Capital Corporation Managing Director Colin Loehr, working in collaboration with M&T Bank Business Banking Relationship Manager Dino Amonica. The client is a Baltimore-based real estate investment company.
“Freddie Mac’s SBL program is fast, reliable and priced affordably,” said Arnold Smeenk, Group Vice President and Small Loan program manager for M&T Realty Capital Corporation. “It offers significant benefits for small balance borrowers interested in non-recourse multifamily financing.”
About M&T Realty Capital Corporation
M&T Realty Capital Corporation (www.mandtrcc.com) is a full-service mortgage banking company that specializes in providing competitive financing nationwide for commercial real estate. As a wholly-owned subsidiary of M&T Bank, we have direct access to commercial/multifamily mortgage capital markets, and are a fully accredited Fannie Mae DUS® and Freddie Mac Program Plus® lender as well as an approved FHA MAP and LEAN lender. In 2015, we generated more than $2.5 billion in loan originations, and currently service a loan portfolio in excess of $11.8 billion.
About M&T Bank
Founded in Buffalo, N.Y., in 1856, M&T Bank Corp. (www.mtb.com) is one of the 20 largest U.S. bank holding companies, with more than 650 branch offices and 1,500 ATMs in Maryland, Washington D.C., Virginia, Pennsylvania, New York, West Virginia and Delaware.
Small Loan Specialist
© 2016 M&T Bank, Member FDIC. Equal Housing Lender.
All loans and all terms referenced herein are subject to receipt of a complete application, credit approval, and other conditions.
“DUS®” is a registered trademark of Fannie Mae. “Program Plus®” is a registered trademark of Freddie Mac.