M&T Realty Capital Corporation® has closed a $29,600,000 FHA-insured loan for the refinance of a 188-unit multifamily property located in Dumfries, VA. The loan was completed under the U.S. Department of Housing and Urban Development (HUD) Federal Housing Authority (FHA) 223(f) program.
At 75% LTV, the 35-year, 2.21% fixed-rate loan is fully amortizing.
The transaction was led by Managing Director John Higinbothom and Senior Managing Director Bob Kaplan of M&T Realty Capital Corporation’s Baltimore office.
As one of the nation’s leading firms providing FHA-insured mortgages, M&T Realty Capital Corporation provides financing under a variety of HUD’s programs. These include financing for the construction or substantial renovation of rental housing (pursuant to Section 221(d)(4)); the purchase or refinancing of existing multifamily housing projects (pursuant to Section 223(f)); skilled nursing or assisted living facilities (pursuant to Section 232/223(f)); hospitals (pursuant to Section 242) and secondary debt (pursuant to Section 241). For specific loan information on these programs, please call Jim Schneider 206-816-9797 or request a loan quote.
All loans and all terms referenced herein are subject to receipt of a complete application, credit approval, and other conditions.