Arbor Funds $1.8M Fannie Mae Small Loan in Livingston, TX
UNIONDALE, NY (January 14, 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 Livingston, TX.
Pecan Park Apartments, a 36-unit multifamily property, received $1.8M in funding through the Fannie Mae Small Loan program. The loan comes with a seven-year hybrid term and a step-down prepay structure.
Vincent Chiodo of Arbor’s New York City office originated the loan. “The borrower was looking for a long-term loan with flexible prepayment terms,” Chiodo said. “The Fannie Mae hybrid option was a perfect fit for this loan and can be offered on all 5-50 unit deals.”
Built in 2007, Pecan Park Apartments offers one- to three-bedroom units. The complex is in close proximity to Lake Livingston State Park, as well as local schools and shops.
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.
Pecan Park Apartments – Livingston, TX
Vincent Chiodo – Originations