M&T Realty Capital Corp. closes $34 million loan for the refinance of a 256-unit building

M&T Realty Capital Corp., a commercial mortgage banking subsidiary of M&T Bank focused on capital markets financing and Fannie Mae and Freddie Mac multifamily programs, closed a $34 million Freddie Mac loan for the refinance of a 256 residential unit high-rise co-operative located at 250 Mercer St. M&T Realty is one of a select group of Freddie Mac Program Plus seller/servicer authorized to originate and service multifamily loans on behalf of Freddie Mac. Under the Freddie Mac program, M&T Realty originates and services loans for apartment properties, including market-rate properties, student housing, cooperatives, and certain affordable housing projects. This property at 250 Mercer St., located between 3rd and 4th Sts., is one of the larger co-op buildings in Greenwich Village/NoHo area. M&T Bank, through their traditional commercial real estate division, also provided a $2.5 million line of credit for the project.