Arbor Closes $6.2M in Fannie Mae Small Loans
UNIONDALE, NY (April 30, 2019) – Arbor Realty Trust, Inc. (NYSE:ABR), a leading multifamily and commercial mortgage lender, funded the following Fannie Mae loans totaling $6.2M in Texas, Oklahoma, and Arizona:
A&M Courtyard, Bryan, TX: This 32-unit student housing property received $1.1M in acquisition funding through the Fannie Mae DUS® Small Loan program. The loan provides a 10 year, fixed-rate term on a 30-year amortization schedule. A&M Courtyard provides housing for nearby Texas A&M University students, and features a swimming pool with deck, covered walkways and beautiful landscaping.
Raleigh Square Apartments, Oklahoma City, OK: This 105-unit multifamily property received $2.2M in acquisition funding through the Fannie Mae ARM 7-6™ loan program. The loan provides a 7-year term with an adjustable rate on a 30-year amortization schedule. Raleigh Square Apartments are conveniently located near Will Rogers World Airport and offer a wide selection of features and amenities including a community picnic area, pool, playground, on-site parking and laundry facilities.
Timberline Mobile Home Park, Show Low, AZ: This 128-unit multifamily property received $2.8M in acquisition funding through the Fannie Mae DUS® loan program. The loan provides a 12 year, fixed-rate term with two years of interest only on a 30-year amortization schedule. Timberline Mobile Home Park is a mix of 89 mobile home sites, 38 RV sites and one apartment unit. The site includes a storage building, clubhouse with community kitchen, as well as a laundry room, banquet hall, library and RV/boat storage area.
Austin Walker of Arbor’s New York City office originated the loans.
“These transactions aren’t just numbers on a page, they reflect the strong relationship Arbor and FNMA share,” said Walker. “Each transaction was custom tailored through a variety of waivers to address the borrowers’ unique needs. Arbor is able to deliver financing solutions for every type of property – whether it’s a standard multifamily property, student housing complex, mobile home park or beyond!”
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 government-sponsored enterprise products. Arbor is a Fannie Mae DUS® lender and Freddie Mac Optigo Seller/Servicer. Arbor’s product platform also includes CMBS, bridge, mezzanine and preferred equity loans. Rated by Standard and Poor’s and Fitch Ratings, Arbor is committed to building on its reputation for service, quality and customized solutions with an unparalleled dedication to providing our clients excellence over the entire life of a loan.
Austin Walker – Originations