M&T Realty Capital has provided $10.5 million for a multifamily property in Southeast Washington, D.C. The address of the property was not disclosed.
The property, featuring 111 units, underwent renovations between 2017 and 2018 and is situated on over two acres of land. The 10-year loan terms include 24 months of interest-only payments, a 5.67% interest rate, a 30-year amortization period, and a 68% loan-to-value ratio.
Jared Cassidy at Marcus & Millichap led the financing arrangement.
Emily Fu is Content Director of Connect Commercial Real Estate, where she covers the east coast markets, including New York, Boston & New England, and DC & Mid-Atlantic markets. She produces daily news stories as well as longer-form content, ranging from Q&As to thought-leadership pieces. She also writes feature stories for Connect Money.
With previous stints at Reuters, Seeking Alpha, and Commercial Observer, Emily has covered the finance side of the commercial real estate industry, technology, media, telecom (TMT), and fashion. She attended the Columbia Graduate School of Journalism and currently resides in Manhattan.