M&T Realty Capital Corporation announced its latest slew of transactions, providing nearly $36 million in financing. First, for a 95-unit assisted living/memory care community in southern Oregon, Steve Muth led the way on a $11.325 million bridge loan to support the property’s acquisition. M&T Realty financed 75% of the cost with the one-year, interest-only, adjustable-rate loan. Proceeds from the transaction will also allow for the new owner to invest $600,000 of capital improvements prior to a HUD refinance. M&T submitted the HUD application immediately and was able to use the same third-party reports for both transactions.
M&T also closed two HUD refinances, starting with a $7.1 million loan provided to a 73-unit assisted living community in Farmington, Connecticut. Paula Quigley and Mr. Muth handled the transaction, which generated over $110,000 in annual cash flow savings for the borrower.
Finally, Mr. Muth closed a $17.58 million refinance for a 120-bed skilled nursing facility in Chelsea, Massachusetts. The loan, which came with a 40-year term, 40-year amortization and fixed rate, saved the borrower over 1% on their interest rate, resulting in annual cash flow savings of over $137,000.
