M&T Realty Capital Corporation® is pleased to announce the successful closing of a $65,750,000 Fannie Mae loan for Summit Court, a 393-unit multifamily property located in Union, New Jersey. This transaction marks the first closing with our client, an affiliate of The Inland Real Estate Group of Companies, Inc., one of the nation’s largest commercial real estate and finance groups.

Summit Court, built in two phases between 2018 and 2023, includes 42 dedicated affordable housing units under the NJ Urban Renewal Exchange. The property benefits from a 30-year PILOT and a Deed Restriction for Affordable Housing, ensuring long-term affordability for residents.

This transaction underscores the close partnership between M&T Bank and M&T RCC, demonstrating our ability to meet the needs of institutional borrowers by providing balance sheet solutions coupled with agency execution. The fixed-rate loan reflects our commitment to delivering flexible financing options.

Chad Musgrove, Senior Vice President, led the transaction with contributions from Wayne Elibero, Deal Manager, and Tovah Bakstran, Associate Deal Manager. “M&T RCC has a focus on delivering results for institutional borrowers and REITS alike. We look forward to expanding these services to continue meeting all borrower needs,” said Musgrove.

“Inland is fortunate to have partners like M&T Bank and M&T RCC that support our business in multiple capacities,” commented Joseph Binder, chief investment officer of The Inland Real Estate Group, LLC. “The M&T RCC team provided client-centric execution that promoted the appreciation Inland has for its long-term borrowing relationship with the agencies.”