Sterling, VA — M&T Realty Capital Corporation announced that it has closed a $17,104,500 Fannie Mae Multifamily Affordable Housing loan for the permanent financing of Cascades Village —a 150-unit senior affordable housing property located in Sterling on behalf of Avanath Capital Management. The 10-year, fixed-rate loan is structured with ten years of interest-only payments at an interest rate of 2.58%. The transaction was led by managing director Matthew Hodson of M&T Realty Capital Corporation’s Falls Church, VA. “Given Avanath’s track-record in the affordable housing space and Fannie Mae’s strong desire to finance affordable housing projects, we were able to lock in an extremely low interest rate to further preserve 150 affordable apartment units in one of the most expensive metropolitan areas in the country,” said Hodson. Cascades Village offers one- and two- bedroom apartments for adults age 55 and over. Unit amenities include wheelchair accessible rooms, individually controlled air conditioning and heating, emergency pull cord system, high speed internet, and cable ready. Property amenities include a fitness center, an outdoor space with walking path, elevator, billiards, beauty salon, library, entertainment room, screened-in porch and on-site laundry.