News: Financial Digest
Posted: December 11, 2015
Kerner of M&T Realty Capital closes $11.22 million refinance loan
Clocktower Place - Nashua, NHNashua, NH M&T Realty Capital Corporation has closed an $11.22 million Fannie Mae loan for the refinance of Clocktower Place. The 10-year, 3.97% fixed-rate loan has a 30-year amortization period.
Clocktower Place offers 143 units with one, two, or three-bedroom apartment or townhome layouts for rental. The property is located in downtown Nashua, and is a short walk from Mine Falls Park, a 325-acre park with multiple walking/jogging trails. Community amenities include an on-site health club, covered parking, function rooms, and concierge services.
Daniel Kerner, M&T RealtyThe transaction was led by managing director Daniel Kerner of M&T Realty Capital’s Boston office. Fantini & Gorga provided brokerage services for the borrower.
M&T Realty Capital is a full-service mortgage banking company that specializes in providing competitive financing nationwide for commercial real estate. As a wholly-owned subsidiary of M&T Bank, we have direct access to commercial/multifamily mortgage capital markets, and are a fully accredited Fannie Mae DUS and Freddie Mac Program Plus lender as well as an approved FHA MAP and LEAN lender. In 2014, we generated more than $1.8 billion in loan originations, and currently service a loan portfolio in excess of $11.8 billion.
M&T is a financial holding company headquartered in Buffalo, New York. M&T’s principal banking subsidiary, M&T Bank, operates banking offices in New York, Maryland, New Jersey, Pennsylvania, Delaware, Connecticut, Virginia, West Virginia and the District of Columbia. Trust-related services are provided by M&T’s Wilmington Trust-affiliated companies and by M&T Bank.
Tags:
Financial Digest
MORE FROM Financial Digest
Financial Digest
Example Story Title FD 5
Boston, MA The fall season always marks the return of IFMA Boston events, and this year is no different. Registration is now open for IFMA Boston’s FMForward Deep Dive 2024. The FMForward Deep Dive 2024 Conference will be held on November 19th at the Babson Executive Conference Center in Wellesley, Mass.
Columns and Thought Leadership
What’s UP with that? - by Kyle Kadish
Investors have multiple tools to defer tax liabilities when selling investment properties. The best known is likely a 1031 exchange - which has been around in some form or fashion for over 100 years. Installment sales have existed as part of the code for more than 75 years. Newer legislation (2017) created Qualified Opportunity Zones (QOZs)
Reverse exchanges and the challenges of a competitive real estate market - by Michele Fitzpatrick
Our current, highly competitive real estate market poses specific challenges for investors who are considering taking advantage of a tax-deferred 1031 exchange. In this market, investors will have no problem selling their current property if priced properly, but they may find it difficult to find a suitable replacement property
Another reason to stay debt free in a 1031 Delaware Statutory Trust exchange - by Dwight Kay
It seems like every day there is another reason showcasing the reason why more and more investors are choosing to stay debt-free when investing in Delaware Statutory Trust (DST) properties in a 1031 exchange.
Cracking the code: Understanding the pros and cons of Delaware Statutory Trusts for 1031 Exchange real estate investors - by Dwight Kay
In the realm of real estate investing, the 1031 exchange Delaware Statutory Trust can provide savvy real estate investors a unique opportunity to achieve passive management, the potential for regular monthly distributions, and a way to enter one of the most tax efficient real estate investment strategies available today.