$24.5 Million in Financing for a Retail Property in Pennsylvania
M&T Realty Capital Corporation® has arranged a $24,500,000 life insurance company loan for the refinance of a 170,614-sf retail property located in Philadelphia, PA.
M&T Realty Capital Corporation® is a Freddie Mac Optigo® Lender, and is authorized to originate and service affordable housing, conventional multifamily and seniors housing loans on behalf of Freddie Mac.
Affordable housing
Characteristic Terms1 | Freddie Mac Loan Programs Refinance, Acquisition, Construction Takeout, Moderate Rehab or Lease-Up | Freddie Mac Small Balance Loan Program3 Refinance or Acquisition (Stabilized Multifamily Properties1) |
---|---|---|
Minimum loan!amount | $3,000,000 | $1,000,000 |
Maximum Loan-to-Value (LTV) | 75-80%; dependent on specific program | 70-75%; may be reduced in certain markets |
Minimum Debt Service |
Typically 1.25x – 1.35x; dependent on specific program | Varies by market; ranges from 1.25x – 1.45x |
Loan term | 5 to 30 years | 5-, 7- or 10-year fixed-rate terms; 20-year hybrid ARM with initial fixedrate |
Amortization | Up to 30 years | Up to 30 years |
Rate type | Fixed or floating | Fixed or hybrid (fixed-to-float) |
Interest-only | Partial and full-term available | Partial and full-term available |
Early rate lock options | Typically 60-90 days, longer terms may be available | Rate locked at time of application for 35 days |
Green programs offered? | Yes | No |
Get Started
Our program managers can talk through yourneeds to find options that work for you.