Fagan of M&T RCC completes $12.6 million for 240-unit apartments project

of M&T Realty Capital Corp. (M&T RCC), recently arranged a $12.6 million first mortgage secured by a 240-unit apartment project. The complex, known as Creek House Commons, contains two and three-bedroom townhouse units and two bedroom garden units. The loan is a non-recourse seven-year fixed rate plus a one-year floating rate with a 30-year amortization schedule. Theloan was provided by M&T RCC through its Freddie Mac seller servicer program.