M&T Realty Capital Corporation has successfully closed a $18,750,000 Freddie Mac Forward Commitment 9% LIHTC loan for The Louella. This 85-unit age-restricted multifamily property is located in the Fordham Heights section of the Bronx. The team at M&T secured favorable permanent financing terms for their client, The Community Builders.
The transaction was led by Senior Vice President Sean Cullen at M&T’s New York City office. “We are thrilled to continue our partnership with The Community Builders and assist them in bringing much-needed affordable housing to the Bronx,” said Cullen.
The Louella offers exclusively affordable units and is conveniently situated near Fordham University and The Bronx Zoo. It features studio-, one- and two-bedroom residences with amenities such as onsite laundry facilities, bike storage room, second floor resident community room with access to outdoor courtyard, fitness area,and a passive outdoor recreational area.
