Arbor Funds $10.4M Fannie Mae DUS® Loan in Cedar Falls, IA
UNIONDALE, NY (May 27, 2020) – Arbor Realty Trust, Inc. (NYSE:ABR), a leading multifamily and commercial mortgage lender, recently funded a Fannie Mae DUS® Streamlined Rate Lock loan in Cedar Falls, IA. The 180-unit property received $10.4M in financing.
Joseph Charneski of Arbor’s New York City office originated the deal.
“This was a great transaction,” Charneski said. “We were able to close this refinance loan with full-term interest only payments and a historically low interest rate during these unprecedented times.”
Built in 1975, Thunder Ridge is made up of one- and two-bedroom apartments. The pet-friendly complex features a basketball court, putting green, tranquility pond and 24-hour fitness center. It is conveniently located within walking distance of retail stores and restaurants.
Arbor Realty Trust, Inc. (NYSE:ABR) is a nationwide real estate investment trust and direct lender, providing loan origination and servicing for multifamily, single-family rental (SFR) portfolios, seniors housing, healthcare and other diverse commercial real estate assets. Headquartered in Uniondale, New York, Arbor manages a multibillion-dollar servicing portfolio, specializing in government-sponsored enterprise products. Arbor is a Fannie Mae DUS® lender and Freddie Mac Optigo Seller/Servicer. Arbor’s product platform also includes CMBS, bridge, mezzanine and preferred equity loans. Rated by Standard and Poor’s and Fitch Ratings, Arbor is committed to building on its reputation for service, quality and customized solutions with an unparalleled dedication to providing our clients excellence over the entire life of a loan.
Thunder Ridge – Cedar Falls, IA
Joseph Charneski – Vice President, Originations