Arbor Funds $1.2M Fannie Mae Small Loan in St. Petersburg, FL
UNIONDALE, NY (January 6, 2020) – Arbor Realty Trust, Inc. (NYSE:ABR), a leading multifamily and commercial mortgage lender, recently funded a Fannie Mae Small Loan in St. Petersburg, FL. The property, Garden Court Apartments, received $1.2M in financing from the program.
Michael Noll of Arbor’s New York City office originated the loan.
“This refinance deal allowed our client to acquire a lower interest rate, while securing a foothold in the niche market of the thriving St. Petersburg, FL, region,” Noll said. “This is a perfect example of how our close, long time partnership with Fannie Mae enables us to meet and exceed the needs of our diverse clients, large and small, all across the country.”
This pet-friendly apartment community was built in 1957 and has 18 units featuring open concept floor plans, updated baths and remodeled kitchens. The complex is a short drive to Gulf beaches and family-friendly attractions such as the Education Innovation Center, Secrets of the Sea Marine Exploration Center and Aquarium, and Great Explorations Children’s Museum.
Arbor Realty Trust, Inc. (NYSE:ABR) is a nationwide real estate investment trust and direct lender, providing loan origination and servicing for multifamily, single-family rental (SFR) portfolios, 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.
Garden Court Apartments – St. Petersburg, FL
Michael Noll – Originations