Peter D’Arcy and Matt Petrula
Head of Commercial Real Estate and New York Area Executive; Senior Group Manager of Commercial Real Estate at M&T Bank
Last year's rank: 23
M&T Bank maintained its hold as one of the nation’s top regional bank lenders in 2020, amid the market challenges driven by the COVID pandemic.
The Buffalo, N.Y.-based bank’s commercial real estate operation originated $13 billion in new loans last year, down only slightly from its $16 billion lent in 2019. M&T achieved $9 billion in balance sheet loans and $4 billion in agency multifamily transactions.
Matt Petrula, M&T senior group manager of commercial real estate, said the bank focused heavily on serving “long-standing relationship” customers during the past year, amid fewer large acquisition and development financing requests.
Last year’s deal activity at M&T was highlighted by supplying $277 million in balance sheet and agency financings for New York-based TF Cornerstone. M&T also spearheaded a $100 million revolving facility for RCG Longview that will support the company’s fund investments, and led a $104 million multifamily development loan to LCOR on an office project at 300 M Street in Washington, D.C.
Also in 2020, M&T launched a new affordable housing platform providing financing for multifamily properties. M&T is offering cash loans, bond credit enhancements, tax-exempt loans and other financing options under the program.
“The pandemic helped shine the spotlight on the need for more affordable housing in our communities,” Peter D’Arcy said. “M&T has made a clear commitment to assist the people working to meet this vital need across the country.”
The past year was also active on the corporate front for M&T with its February acquisition of People’s United Bank. The merger is expected to close in the fourth quarter of 2021.—A.C.
