M&T Realty Capital Corporation (RCC) is proud to announce the successful closing of a $4,607,600 FHA 223(f) loan for the refinancing of a 47-unit multifamily property located in Connecticut. This transaction reflects our continued commitment to delivering impactful financing solutions that support both our clients and the communities they serve.

The closing was led by Sean Cullen, Senior Vice President at M&T RCC, who emphasized the broader mission behind the financing: “This closing underscores our commitment to providing affordable housing solutions and supporting community development. By securing the FHA 223(f) loan, we were able to ensure that 15 of the rental units remain income and rent restricted, contributing to the stability and growth of the local community. We look forward to continuing our efforts in creating impactful financial solutions that benefit our clients and the communities we serve.”

The FHA 223(f) program is designed to facilitate the refinancing or acquisition of multifamily properties with long-term, fixed-rate, non-recourse financing. In this case, the loan structure not only provided favorable terms for the borrower but also preserved affordability for a significant portion of the property’s units—an outcome that aligns with M&T RCC’s mission to foster inclusive and sustainable housing opportunities.

Thank you to M&T Bank partner, Sean Kenny, for sourcing this opportunity and helping bring it to a successful close.