M&T Realty Capital Corporation (M&T), a wholly-owned subsidiary of M&T Bank, announced that their Seniors Housing Team closed a total of $434.7 million in loans during the first six months of 2023. The loans were for senior living properties, health and rehabilitation centers and retirement communities in the South, Southwest and Northwest of the United States.
Despite the issues in the capital markets, M&T financed 18 properties in eight states across the entire acuity spectrum, from standalone independent living to skilled nursing. Properties also varied in size, from as small as 15 units and to as large as 371 units. And there was variety in the types of loans that were closed. Across the HUD closings, $75 million in financing was arranged for seven properties in Oregon, Washington and Virginia.
There were $130 million of Fannie Mae closings for three properties in Tennessee, Florida and South Carolina. Two properties in Colorado and Texas received Freddie Mac loans totaling $133 million. Finally, M&T arranged $101.5 million in bridge loans for six properties in Texas and North Carolina. Working in partnership on the Seniors Housing Team were Matt Pipitone, Seniors Housing Platform Manager, Nick Gent, Senior Vice President and Matt Henning, Senior Vice President.
