16A — April 23 - May 20, 2021 — Financial Digest — M id A tlantic Real Estate Journal
www.marej.com
F inancial D igest
The 10-year, sub-4.00% fixed-rate loan was structured with 5 years of interest only Muth and Pipitone of the Richmond, VA and Baltimore, MD offices lead transaction M&TRealtyCapital Corporationprovides $15.1M in financing for 55+ age restricted community B ALTIMORE, MD — M&T Realty Capi- tal Corporation has manufactured housing com- munities, cooperatives, and affordable housing. MAREJ
and was 98.8% occupied at the time of closing. Ownership has been investing significant capital in the project over the past several years to improve the community’s landscaping, HVAC systems and resident units upon turnover. The Fan- nie Mae loan also provided over $5,000/unit for future capital expenditures to ensure the community remains well positioned within the market for years to come. The transaction was led by managing director, Steven Muth and seniors housing program manager Matthew
Pipitone of M&T Realty Capi- tal Corporation’s Richmond, VA and Baltimore, MD offices, respectively. Director Eric Johnson led the transaction for Ziegler from the company’s Denver, CO office. M&T Realty Capital Cor- poration has been a Fan- nie Mae-approved Delegated Underwriting and Servicing (DUS) lender since 1989. As a Fannie Mae DUS lender, M&T Realty Capital Corporation originates and services loans for apartment properties, including seniors housing, student housing,
p a yme n t s , followed by 30 years of a m o r t i z a - t i o n . T h e loan also car- ried a declin- ing prepay- ment sched- u l e , wh i ch
c l o s e d a $15,145,000 Fannie Mae loan for the refinance of an 80-unit, 55+ age re- stricted com- muni ty l o - cated in St.
Otteau Group announces the acquisition and merger of PATJO Appraisal Services MATAWAN, NJ — The Otteau Group, Inc. an- nounced the acquisition of PATJO Appraisal Servic - es, Inc. and its team of pro- fessionals with a combined 50 years of multi-faceted real estate experience. Leading PATJO’s team to the Otteau Group are Patrick Josephs and Susanne Lyon-Jo- sephs . “I am very optimistic on what the future holds with this new venture, … there was instant chemistry,” said Patrick Josephs, president of PATJO. Headquartered in New York City and operating in six states, PATJO’s wide ranging expertise includes residential, commercial, in- dustrial and special purpose property valuation services. The acquisition expands the Otteau Group’s New York services and increases the number of contracts with various NYC agencies. “We look forward to wel- coming their long list of pri- vate and public sector clients to this exciting strategic partnership,’’ said Chris- topher Otteau , chief ap- praiser of the Otteau Group. Patrick A. Josephs further commented, “I admire Chris, for his drive and commitment to professionalism, and his high ethical standard. I like the multi-faceted approach to professional practice that the Otteau Group has taken - not just real property valuation - and the reputation that Jef- frey Otteau [president of the Otteau Group] has built over the last +45 years.” Founder and president of PATJO, Patrick A. Josephs, turns his role to managing director of Otteau Group’s New York Markets. Since 1994, Patrick has personally analyzed over 3,000 invest- ment properties and has written thousands of narra- tive reports on real property valuation, markets, and fea- sibility studies. MAREJ
Steven Muth Matthew Pipitone
will provide the borrower with additional flexibility in future years. The community had an im- pressive occupancy history
Charles, IL. The transaction was worked in conjunction with Ziegler , a specialty in- vestment bank headquartered in Chicago, IL.
Top Five FannieMae Green Lender
Top Five FannieMae
Top Ten HUD Lender
Seniors Lender
Part of howwe structure a successful deal.
Our business is built on values that we use to construct every deal. We take the time
to get to know you and your business to create custom financing solutions that meet
your needs. Even after closing, our focus on service continues for you.
Call 800-737-2344 or visit mtrcc.com/learnmore to get the conversation started today.
F A N N I E M A E | F R E D D I E M A C | F H A / H U D | L I F E I N S U R A N C E C O M P A N Y
Equal Housing Lender. Based on 2019 origination data provided by the U.S. Department of Housing and Urban Development (fiscal year ended 9/30/19) and by Fannie Mae Multifamily (fiscal year ended 12/31/19). ©2020 M&T Realty Capital Corporation. M&T Realty Capital Corporation is a wholly-owned subsidiary of M&T Bank, Member FDIC. mtrcc.com 49200 201109 VF
Made with FlippingBook Ebook Creator