BALTIMORE, MD – M&T Realty Capital Corporation announced today that it has closed a $16,050,000 Freddie Mac OptigoSM Green Up® loan for the acquisition of Berkeley & Warwick Place, a 265-unit rental townhome community in Richmond, VA, on behalf of Walde Enterprises. Walde Enterprises will make upgrades to the property to improve both energy and water usage as part of the Green Up program.
Berkeley & Warwick Place offers one-, two-, and three-bedroom units for rent. Each unit features an eat-in kitchen with a walk-in pantry and a roomy floor plan. Property amenities include laundry rooms and a playground. The property is located near Chippenham Parkway and I-95, offering convenient access to local employers and to downtown Richmond.
The 10-year loan is structured with three years of interest-only payments, followed by a 30-year amortization. The transaction was led by Managing Directors Matthew Hodson and Debra Goldstein of M&T Realty Capital Corporation’s Falls Church, VA and Washington, DC offices, respectively.
“Freddie Mac’s Green Up program offers multiple benefits to owners who are interested in reducing the energy and water consumption at their properties,”states Matthew Hodson. “The improvements Walde Enterprises plans to make to Berkeley & Warwick Place will help their tenants save money on both energy and water usage, while bringing the property in line with modern sustainability standards.”
About Walde Enterprises: Walde Enterprises is a privately owned real estate organization serving residential and commercial clients throughout Maryland, Virginia, Washington, DC, Vermont, North and South Carolina, Florida, and beyond. With nearly a century of combined experience in acquiring, developing, financing, improving, and managing real estate we are a trusted leader and partner in every market we serve. Find out more at www.waldeco.com
About M&T Realty Capital Corporation: M&T Realty Capital Corporation is a wholly-owned subsidiary of M&T Bank—one of the 20 largest US-headquartered commercial bank holding companies. As a full-service mortgage banking company, we specialize in providing competitive financing nationwide for commercial real estate. We are a fully accredited Fannie Mae DUS® lender, a Freddie Mac OptigoSM Lender, an approved FHA/HUD MAP and LEAN lender, and also offer life insurance company and CMBS financing through correspondent relationships. In 2018, we originated $4.9 billion in loans, and currently service a $20 billion portfolio.
About M&T Bank: M&T Bank Corporation is a regional financial services company headquartered in Buffalo, New York, with more than $115 billion in assets. M&T Bank offers a wide array of banking, mortgage and commercial financial services through more than 750 branches, 1800 ATMs , and a variety of online and mobile services. Investment and insurance solutions are provided to businesses and consumers by M&T Bank and their affiliated companies Wilmington Trust, N.A, M&T Securities and M&T Insurance Agency, Inc.