Amherst, NY M&T Realty Capital Corp. negotiated the closing of a $18 million Freddie Mac conventional loan for Air Buffalo, a 154-unit multifamily housing property. The team navigated challenging market conditions to secure favorable permanent financing terms for their client DMG Investments.

Air Buffalo, a luxury apartment building, is located adjacent to the University at Buffalo North Campus, hiking trails, restaurants, and shopping centers. The property offers studio-, one- and two-bedroom units for rent. Property amenities include an indoor pool and jacuzzi, fitness center, resident lounge, outdoor lounge area with fire pit and grill, private parking, shuttle services, on-site maintenance, and on-site management.

The transaction was led by Robert Barry, senior vice president, in M&T Realty Capital’s New York City office. Barry collaborated with the team at DMG Investments over several months to navigate the student housing market.

“DMG trusted RCC to deliver strong terms in a tough rate environment. We are thankful for their continued partnership and look forward to future opportunities to support their growth,” said Barry.

“Robert and the team at M&T dedicated considerable effort to this deal, skillfully assembling all involved parties and securing favorable terms for us from Freddie Mac, leading to a successful close. Without their expertise, our progress in the market would not have been as smooth,” said Zoe Ma, finance associate, DMG Investments.