M&T Realty Capital Corporation, a full-service mortgage banking subsidiary of M&T Bank, today announced closing a $35 million loan for the refinancing of The Platform Sono in Norwalk, Connecticut, according to a press release shared with FinLedger.
The firm says that financing came from a Freddie Mac Optigo conventional loan, and is structured as a 10-year fixed-rate loan. This includes four years of interest-only, followed by amortization.
The Platform Sono property is located across the street from the South Norwalk Train Station and includes studios, one-, two-, and three-bedroom units for rent, adding that units include “an open floor, oversized windows, modern appliances, in-unit washer and dryer.”
It also stated amenities including coworking spaces, private offices and meeting rooms, on-site cafe, outdoor kitchen, attached garage parking and bike storage.
The transaction was led by Managing Director Dan Kerner, in collaboration with Commercial Senior Relationship Manager Chris Brighindi, who placed the construction loan on the property for M&T.
In other recent proptech news, Xeal hired Chris Moreno as VP of Real Estate and Channel Partnerships. HomeLight also bucked the recent venture capital downturn, raising a $115 million fundraise and acquiring Accept.inc.