M&T Bank Arm Partners With BXMT on Agency MF Lending

M&T Bank's MTB wholly-owned subsidiary — M&T Realty Capital Corporation — has collaborated with Blackstone Mortgage Trust, Inc. BXMT to enable BXMT borrowers' expanded access to multifamily agency financing. This will be initiated through M&T Realty Capital's Fannie Mae DUS and Freddie Mac Optigo lending platforms. The partnership will allow BXMT to provide conventional and reasonable multifamily loans.

M&T Realty Capital is a full-service mortgage banking corporation that specializes in offering competitive financing for income-producing commercial properties across the United States. As a division of M&T Bank, M&T Realty Capital provides extensive capabilities while maintaining a personal, attentive and trustworthy approach.

This deal strengthens M&T Bank's partnership with BXMT and reflects the company's current commercial real estate innovation strategy of expanding its client base and increasing its national multifamily lending platform.

BXMT is a provider of floating-rate first mortgage financing, with extensive experience in the multifamily loan industry. This collaboration will broaden the company's access to agency loan product offerings via M&T Realty Capital. This will, thus, give BXMT's borrowers inclusive access to transitional and permanent multifamily financing capabilities.

Per BXMT's management, the company is excited to gain access to the agency multifamily lending market through M&T's established team and business. BXMT has been a key capital supplier to apartment owners since its establishment, originating approximately $12 billion in multifamily bridge loans over the last decade. BXMT's collaboration with M&T Realty Capital expands the breadth of capital solutions a company can offer its borrowers.

In the past six months, shares of M&T Bank have gained 5.6% compared with the industry's growth of 13.9%.

Image Source: Zacks Investment Research

MTB currently carries a Zacks Rank #3 (Hold).

Recent Collaboration Steps Taken by Other Bank

Earlier this month, Citigroup Inc. C announced plans to introduce its first-of-its-kind 24/7 USD Clearing service in the Middle East in collaboration with Emirates NBD — a leading banking group in the Middle East, North Africa and Türkiye region. This collaboration makes the company's cross-border 24/7 USD payments available to Emirates NBD's corporate and retail clients 24 hours, end to end, across its branch network.

The partnership came across as a significant milestone for Citi's 24/7 USD Clearing multibank service for its bank clients worldwide. Together with Citi, Emirates NBD plans to extend the service to all of its branches in the Middle East and globally, including partnerships with Emirates NBD's third-party institutions.

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