Arbor Funds $1.9M Fannie Mae Small Loan in Norwalk, OH
UNIONDALE, NY (November 13, 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 Fannie Mae Small Loan in Norwalk, OH.
Cedar Brook, a 46-unit multifamily property, received $1.9M in refinance funding through Fannie Mae’s Small Loan program. The deal provides a 10-year fixed rate term and a 30-year amortization schedule.
Geoffrey Platt of Arbor’s New York City office originated the loan. “Arbor was able to provide the sponsor with terms that no local lender was able to provide,” Platt said. “The borrower was impressed with the terms that the Fannie Mae Small Loan program was able to offer, but most importantly he was amazed by the level of customer service and hand holding that Arbor provides.”
Cedar Brook units are equipped with HVAC systems and washer/dryer connections, while the property features a mailbox kiosk, on-site maintenance, and personal garage spaces.
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.
Cedar Brook – Norwalk, OH
Geoffrey Platt – Vice-President, Originations