M&T Realty is raising $35 million in funding for The Platform Sono: NEREJ

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Norwalk, Connecticut M&T Realty Capital Corp. has closed a $35 million conventional Freddie Mac Optigo loan to refinance The Platform Sono, a 122-unit apartment complex.

Platform Sono Station offers studio, one, two and three bedroom units for rent. Each unit features an open floor plan, oversized windows, modern appliances, in-unit washer and dryer, quartz countertops, tile bathrooms and stainless steel appliances. Property amenities include a fitness center, cardio equipment, peloton, yoga/interactive studio, basketball court, coworking spaces, private offices and meeting rooms, onsite coffee shop, media room, billiards table, courtyard with water feature and fire pit, outdoor kitchen with grills, attached garage parking space, closed bicycle storage, roof terrace overlooking the water, controlled access and pets welcome. The property is opposite South Norwalk Train Station.

The 10-year fixed rate loan is structured to pay interest only for four years, followed by a 30-year amortization. The transaction was led by Managing Director Dan Kerner of M&T Realty Capital’s Boston office in conjunction with Commercial Senior Relationship Manager Chris Brighindi, who placed M&T’s construction loan on the property.

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