Arbor Funds $1.4M Fannie Mae Small Loan in Sacramento, CA
UNIONDALE, NY (January 10, 2019) – 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 funded a Fannie Mae Small Loan in Sacramento, CA.
Two properties, 380 Morrison Avenue and 2753 Del Paso Boulevard, received a combined $1.4M in funding through the Fannie Mae Small Loan program. The deal comes with a 30-year fixed term.
Jared Stein of Arbor’s New York City office originated the loan. “It was a pleasure working with a local investor in Sacramento who was looking to lock in long-term debt on two properties that were a mile away from each other,” Stein said. “Thanks to Arbor’s creativity and flexibility, we were able to put these properties on one loan and subsidize processing costs for an emerging borrower.”
Built in 1991, 380 Morrison Avenue consists of six townhouse-style units totaling 6,144 square feet. Each unit is a two-story, two-bedroom residence offering washer/dryer hookups, patios and dedicated parking spaces. Built in 1963 and renovated in 1985, 2753 Del Paso Boulevard consists of seven units totaling 4,856 square feet. The units are wheelchair accessible and provide air conditioning and high-speed internet access.
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.
380 Morrison Avenue and 2753 Del Paso Boulevard – Sacramento, CA
Jared Stein – Originations