The COVID-19 Multifamily Roundup provides news links with key takeaways to assist borrowers in today’s evolving financial environment.
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The COVID-19 Multifamily Roundup provides news links with key takeaways to assist borrowers in today’s evolving financial environment.
RealPage presented a webcast on Covid-19 and apartment demand. Economists provided advice on retaining tenants, while forecasting the pandemic’s future effects on the economy.
Arbor Realty Trust’s COVID-19 Multifamily Roundup provides updated news links to assist real estate professionals in today’s financial environment.
UNIONDALE, NY (March 19, 2020) – Arbor Realty Trust, Inc. (NYSE:ABR), a leading multifamily and commercial mortgage lender, recently funded a bridge loan in Shreveport, LA, for the acquisition of Willow Trace Apartments. This 192-unit property received $8.1M in financing. Sam Schwass of Arbor’s New York City office originated the loan. “This was an exceptional closing that was executed quickly and smoothly thanks to the experience of a highly sophisticated sponsor and the talent and expertise of our structured finance and underwriting groups,” said Schwass. “This was also a great example of how we partner with our clients to develop solutions that best meet their short- and long-term financial goals.” Built in 1978, the two-story units that make up Willow Trace Apartments feature high-speed internet access, fireplaces, walk-in closets, air conditioning and ceiling fans. Residents enjoy balconies and patios; a grill and picnic area; an outdoor pool; and tennis courts. The complex also offers convenient access to local shopping venues, parks and recreation, including a science center, gardens and bicycle trails. About Us Arbor Realty Trust, Inc. (NYSE:ABR) is a Read the full article…
Arbor’s COVID-19 Multifamily Roundup updates our stakeholders with current news highlights to assist CRE professionals in today’s financial environment.
Arbor Realty Trust’s COVID-19 Multifamily Roundup will offer links to news and insights on how the virus is impacting real estate investments.
Read why the coronavirus impact on multifamily property is predicted to be less extensive than with other real estate asset classes.
UNIONDALE, NY (March 17, 2020) – Arbor Realty Trust, Inc. (NYSE:ABR), a leading multifamily and commercial mortgage lender, recently financed a Fannie Mae Small Loan in Kingston, PA. Chapin Apartments received $3.4M in cash-out refinance funding through the program. This is a 7-year deal with a 30-year amortization. Ryan Duff of Arbor’s New York City office originated the loan. “This transaction provided our client the capital they needed to continue to build their portfolio,” said Duff. “At the same time, they were able to secure favorable rates for this loan, making it an ideal solution all around.” Chapin Apartments at 151 East Walnut Street is a garden-style community comprised of four buildings and a total of 60 units. While the units were built in 1939 and 1950, most were renovated in 2018. The complex features a fitness center, resident lounge, storage lockers and a covered parking garage across the street. It is also conveniently located near local shopping, parks and recreation. About Us Arbor Realty Trust, Inc. (NYSE:ABR) is a nationwide real estate investment trust and direct lender, providing loan Read the full article…