M&T Realty Capital Corporation Provides $18 Million for a Multifamily Housing Property in New York State
Baltimore, MD; March 11, 2024 – M&T Realty Capital Corporation® is pleased to announce the closing of a $18 million Freddie Mac conventional loan for Air Buffalo, a 154-unit multifamily housing property located in Amherst, NY. 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 Corporation’s New York City office. Barry collaborated closely 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 Robert 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.
About M&T Realty Capital Corporation
M&T Realty Capital Corporation® (www.mtrcc.com) is a wholly-owned subsidiary of M&T Bank—one of the 11 largest US-headquartered commercial bank holding companies. As a full-service mortgage banking company, we specialize in providing competitive financing nationwide for commercial real estate. We are a fully accredited Fannie Mae DUS® lender, a Freddie Mac Optigo® lender, an approved FHA/HUD MAP and LEAN lender, and offer life insurance company and CMBS financing through correspondent relationships. In addition to its M&T Bank offices, M&T RCC is also closely aligned with M&T commercial banking offices in Florida, Oregon, and Washington. Further information is available at www.mtrcc.com.
About DMG Investments
Founded in 2013 and headquartered in New York, DMG is a leading global real estate investment management and development firm focusing on luxury condominium, multifamily, and student housing. By combining the joint expertise of our talented people, we offer clients a vertically integrated investment platform resulting in outstanding reliability, and the prospect of shared growth. Further information is available at www.dmginvestments.com
