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M&T Realty Capital Closes Freddie Mac Loan for Bronx Affordable
M&T Realty Capital Corporation closed a $18,750,000 Freddie Mac Forward Commitment 9% LIHTC loan for The Louella, an 85-unit age-restricted multifamily property located in the Fordham Heights section of the Bronx. The team secured favorable permanent financing terms for their client, The Community Builders.
The transaction was led by SVP Sean Cullen in M&T Realty Capital’s New York City office. “M&T RCC is excited to continue our relationship with The Community Builders and to help The Community Builders bring much-needed affordable housing to the Bronx,” said Cullen.
The Louella, an apartment building offering exclusively affordable units, is near Fordham University and The Bronx Zoo. The property will offer studio-, one- and two-bedroom residences. Property amenities include onsite laundry facilities, bike storage room, second floor resident community room with access to outdoor courtyard, fitness area, and a passive outdoor recreational area.
- ◦Financing
