M&T Realty Capital Provides $10.6M Loan To Refinance Affordable Apartment Building In Washington, DC's Fort Dupont Neighborhood

The transaction involves a multi-family asset located at 336 37th Street SE in Washington, DC. This property was refinanced for an amount of $10,600,000. The loan was facilitated by M&T Realty Capital Corporation and is structured as a 10-year loan with 24 months of interest-only payments, an interest rate of 5.67 percent, a 30-year amortization schedule, and a loan-to-value ratio of 68 percent.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $10,600,000
• Lender: M&T Realty Capital Corporation
• Landlord: Kaye Stern Properties
• Broker: Jared Cassidy - Marcus & Millichap
• Loan Type: Refinance
• Loan Terms: 10-year loan includes 24 months of interest-only payments, with an interest rate of 5.67 percent, 30-year amortization, and a 68 percent loan-to-value ratio.

This closing involved key individuals and companies including M&T Realty Capital Corporation as the lender, Kaye Stern Properties as the landlord, and Jared Cassidy of Marcus & Millichap representing the brokerage side of the transaction. The refinancing aims to support an affordable apartment building situated in the Fort Dupont neighborhood of Washington, D.C.