M&T Realty arranges $21.5 million in financing for a multifamily property

Jersey City, NJ M&T Realty Capital Corporation has arranged financing in the amount of $21.5 million secured by Lumber House apartments, a 46-unit, luxury mid-rise apartment community.

After building completion in September of 2021, Lumber House was fully leased in under 60-days. Lumber House offers an outstanding amenity package and is located adjacent to Riverview Park within walking distance of the 2nd and 9th St. Stations of the Hudson-Bergen Light Rail System.

After a thorough marketing effort, the non-recourse loan was placed through a local bank at a very aggressive interest rate. Strong renter demand, a highly experienced borrower and the transit location were all important considerations for lenders. The transaction was led by senior managing director John Taylor and managing director Donna Falzarano of the firm's Florham Park, NJ office, in collaboration with M&T Bank commercial senior relationship manager Colleen Foy.