Arbor Funds $1.5M Freddie Mac SBL Deal in Austin, TX
UNIONDALE, NY (November 29, 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 funded a Freddie Mac SBL deal in Austin, TX.
SOCO Flats, a 20-unit garden-style multifamily property, received $1.5M in acquisition financing through the Freddie Mac SBL program. The 5-year hybrid term comes with a 30-year amortization schedule.
David Galst of Arbor’s Century City office originated the loan. “Arbor worked diligently to facilitate our buyer’s tight closing timeline and logistics,” said Galst. “This deal was yet another example of Arbor’s proactive execution.”
Located in the heart of Austin, SOCO Flats offer apartment units with modern finishes and amenities including balconies, a laundry facility, and on-site parking.
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.
SOCO Flats – Austin, TX
David Galst – Senior Vice President, Originations