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How Big is Small Cap Multifamily?

A closer look at the multifamily housing inventory in the United States and the size of the small cap investment opportunity.

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GENERAL: 800.ARBOR.10

Arbor Closes $10.4M Single-Family Rental Portfolio Transaction in NJ

UNIONDALE, NY (December 11, 2018) – Arbor Realty Trust, Inc. (NYSE:ABR), a real estate investment trust and national direct lender specializing in loan origination and servicing for multifamily, seniors housing, healthcare, and other diverse commercial real estate assets, recently closed a single-family rental portfolio deal spanning three counties in New Jersey, under the Freddie Mac Single-Family Rental pilot.

The New Jersey SFR portfolio, which consists of 78 total units across 33 properties in Hudson, Essex and Passaic Counties, received $10.4M in refinancing through the Freddie Mac Conventional loan program. The transaction provides a 10-year fixed rate term and a 30-year amortization schedule. 84% or 58 residential units are affordable for low-income families earning at or below 80% of the Area Median Income (AMI).

Stephen York of Arbor’s New York City Office originated the loan. “With the fast growth of SFR properties across the country, Arbor is in a great position to offer flexible solutions customized for our clients. In this case, we partnered with Freddie Mac, an established agency lender, to structure a portfolio deal spanning multiple counties in New Jersey,” York said.

“Freddie Mac’s partnership with Arbor is providing critical refinancing that will sustain dozens of affordable rental homes for Northern New Jersey residents,” said David Leopold, Vice President of Targeted Affordable Sales & Investments at Freddie Mac Multifamily.

A majority of the properties in the portfolio were acquired in the past two years and were recently renovated and stabilized. There are nine commercial units within the portfolio, which consist of ground floor retail space. The properties are spread across four cities: Jersey City, Newark, Paterson and Bayonne.

About Us
Arbor Realty Trust, Inc. (NYSE:ABR) is a nationwide real estate investment trust and direct lender, providing loan origination and servicing for multifamily, seniors housing, healthcare and other diverse commercial real estate assets. Headquartered in Uniondale, New York, Arbor manages a multibillion-dollar servicing portfolio, specializing in Fannie Mae, Freddie Mac and other government-sponsored enterprises, as well as CMBS, bridge, mezzanine and preferred equity lending. Rated by Standard and Poor’s and Fitch Ratings, Arbor is committed to building on its reputation for service, quality and flexibility, and dedicated to providing our clients excellence over the entire life of a loan.

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New Jersey SFR Portfolio

Originator

Stephen York – Vice President, Originations