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

M&T Realty Capital Corporation has provided a $10.6 million loan to refinance an affordable apartment building located at 336 37th Street SE in Washington, D.C.'s Fort Dupont neighborhood. The property is a multifamily asset and is owned by Kaye Stern Properties. The loan terms include a 10-year term with 24 months of interest-only payments, an interest rate of 5.67 percent, a 30-year amortization, 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

Jared Cassidy from Marcus & Millichap served as the broker in this loan transaction. The loan provided by M&T Realty Capital Corporation will enable the refinancing of the affordable apartment building, supporting the ongoing operations and maintenance of the property.