Donald Capoccia Of BFC Partners Secures $126M Loan From Wells Fargo For Buffalo Multifamily Acquisition

The asset involved in this transaction is the Towne Gardens Apartments, a multifamily property located at 440 Clinton Street in Buffalo. The property comprises 360 units and the acquisition was financed with a loan amount of $126,000,000. The financing was secured through Wells Fargo, in conjunction with Freddie Mac, to facilitate the acquisition and renovation of the property.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $126,000,000
• Address: 440 Clinton Street
• Market: Buffalo
• Units: 360
• Lender: Wells Fargo
• Landlord: Donald Capoccia - BFC Partners
• Loan Type: Acquisition
• Additional Financing: $81.5M in NY State HCR tax credits and subsidies

Key individuals involved in the transaction include Donald Capoccia, who represents BFC Partners as the landlord. The financing efforts also included local community groups, contributing to the overall acquisition strategy for the Towne Gardens Apartments.