New York & Tri-State CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
M&T Places Permanent Loan on South Amboy Luxury Apartments
John Taylor and Donna Falzarano of M&T Realty Capital Corporation recently placed a $78,000,000 permanent loan secured by Station Bay Apartments, a newly built, 291-unit luxury waterfront multifamily property located in South Amboy and developed by BNE Real Estate Group of Livingston, NJ. Shawn Field of M&T Bank provided the construction loan on behalf of BNE.
The financing was placed with a long-term life company relationship that offered a significant interest-only period at a very attractive fixed interest rate. M&T Realty Capital began marketing the opportunity very early in the leasing process and identified a life company lender that could offer competitive terms with flexibility around occupancy requirements at closing.
“BNE is a valued long-term relationship of M&T Bank and M&T Realty Capital,” said Taylor. “We’re honored and grateful to bring such an outstanding opportunity to the market on behalf of BNE.”
- ◦Financing
