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Equity Residential Development Secures $20M Loan From M&T Bank For Clinton Square Studios In Albany
FINANCED
$20,000,000
New York
See Similar DealsDevelopment Site
Financed 09/23/2025
FINANCED
Equity Residential Development Secures $20M Loan From M&T Bank For Clinton Square Studios In Albany
794 Broadway
See Similar DealsDevelopment Site
Financed 09/23/2025
Summary
NEW YORK
Asset Type:Development Site
Transaction Type:Loan
The asset involved in this transaction is a development site located at 794 Broadway in Albany. It consists of 67 residential units and is being developed as an affordable housing complex named Clinton Square Studios.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $20,000,000
- Lender: M&T Bank
- Landlord: Equity Residential Development
- Units: 67
Equity Residential Development is the landlord associated with the project, which is dedicated to providing housing for Capital Repertory Theatre actors. The loan amount secured for this initiative is $20 million from M&T Bank, indicating a significant investment in the Albany market.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$20,000,000.00
Monthly NOI$133,333.33
Monthly Debt Service$126,413.60
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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