M&T RCC Provides Financing for Dorchester Mixed-Income Project
M&T Realty Capital Corporation (M&T RCC) arranged the financing for 247 Hancock, a 47-unit mixed-income multifamily development located in Boston’s Dorchester neighborhood. The project is being developed by Arx Urban and Boston Communities and will deliver 35 affordable housing units, including 15 affordable units supported by project-based vouchers.
The financing was originated by Matt Newton, managing director of M&T RCC’s Boston office. “This transaction is a great example of how M&T leverages its platform to support high-impact affordable housing throughout the capital stack,” said Newton. “We’re proud to partner with Arx Urban and Boston Communities to bring this much-needed affordable housing to Dorchester.”
The financing package includes a $6.34-million Freddie Mac unfunded forward commitment under the 9% Low-Income Housing Tax Credit program, a $19.17-million construction loan provided by Dan Feyock of M&T Bank and a $19.29-million tax credit equity investment from Bob Nichols of M&T Bank, including state LIHTC equity and federal energy credits.
Distress Is Reshaping the Texas Multifamily Market—Are You Ready? – Don’t miss the special Distressed Assets presentation at Connect Texas Multifamily that will dive into how distress is impacting valuations, deal flow, and strategy across Texas. Learn what’s driving the shift—and how to turn disruption into opportunity. Get real-time insights from Transwestern, CWCapital, Torchlight Investors, and more. www.ConnectTXMF2025.com | EVENT DATE: Thursday, August 28th | VENUE: The Joule, Dallas
Other News
Synergy Hosts Official Opening for Massachusetts’ Largest Office-to-Resi Conversion
Synergy held the official opening of Altitude Worcester, the largest office-to-residential conversion in Massachusetts, with a ribbon cutting ceremony with Juana Matias, the Secretary of the Massachusetts Executive Office of Housing and Livable Communities , and the City of Worcester. The event also marked the completion of 22 Elm St., the adjacent affordable homeownership community Synergy...
Learn more
MBTA Issues RFQ for Redevelopment of Lynn Commuter Parking Garage
The Massachusetts Bay Transportation Authority (MBTA) has issued a request for qualifications from would-be redevelopers of its downtown Lynn, MA commuter parking garage. It’s the first of a two-step process, to be followed by a request for proposals. The five-story garage opened in 1992 and has been partially closed since 2022 over safety concerns, ItemLive...
Learn more
Kidder Mathews Arranges Sale of 45-Unit Multifamily in Walla Walla
Suncrest Apartments, a 45-unit multifamily community located at 1800 Evergreen Street in Walla Walla, Washington, has sold for $4.3 million. Kidder Mathews Vice President Max Frame of the Simon | Anderson Multifamily Team in Seattle represented the seller, Art Griff, in the transaction. The buyer was Jason Zook. Situated on 1.72 acres, Suncrest Apartments consists...
Learn more
Brokers
View All-
Remax Real Estate Professionals
Re/Max Real Estate Professionals
-
Jared Ennis
Central CA Commercial | California
-
Rick Recckio
Recckio Real Estate & Development
-
Greg Corbin
Northgate Real Estate Group
Lenders
View AllManagement
View All-
Essex Property Trust, Inc.
California
-
Josh A
California
-
Bob Tuteur
-
Andrew Schildcrout