Arbor Funds $1.6M Freddie Mac SBL Deal in Brownsville, TX
UNIONDALE, NY (January 8, 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 Freddie Mac SBL deal in Brownsville, TX.
7900 Topo Chico Circle, a 24-unit multifamily property, received $1.6M in acquisition funding through the Freddie Mac SBL program. The deal is a structured 1031 exchange with a 73% LTV ratio.
Sam Gold of Arbor’s Dallas office originated the loan. “Our client owns several complexes in the area and has seen growth in rents and values over the last few years,” said Gold. “This property has tremendous potential and the client plans to make improvements. For more than 10 years, he has benefitted from 1031 exchanges as a result of the strong partnership established with Arbor.”
Built in 2009, the multifamily property offers duplex units equipped with HVAC systems, washer/dryer units, patios and modern appliances/finishes. The property also features parking garages and recreational amenities.
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.
7900 Topo Chico Circle – Brownsville, TX
Sam Gold – Vice President, Originations