Cullen leads financing for The Louella
Baltimore, MD — M&T Realty Capital Corporation announced the closing of a $18.75 million Freddie Mac Forward Commitment 9% LIHTC loan for The Louella in the Bronx, NY. The team was able to successfully secure favorable permanent financing terms for their client, The Community Builders.
The transaction was led by Sean Cullen, senior VP, in M&T RCC’s NYC office.
“M&T RCC is excited to continue our relationship with The Community Builders and to help The Community Builders bring much needed affordable housing to the Bronx,” said Cullen.
“We are proud to partner with M&T Realty RCC to advance our nonprofit mission to build and sustain strong communities where all people can thrive,” said Jesse Batus regional vice president for Real Estate Development, NY/NJ. “Thanks to this investment, The Louella will provide 85 senior households in the Bronx with a stable home, access to amenities and affordable rent.”
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