Arbor Funds $10.6M Acquisition Loan in Forest Park, GA
UNIONDALE, NY (June 6, 2019) – Arbor Realty Trust, Inc. (NYSE:ABR), a leading multifamily and commercial mortgage lender, recently funded a $10.6M acquisition loan in Forest Park, GA. Arbor provided the loan for Wingate Apartments, a 211-unit complex. Financing for this acquisition includes a two-year, floating rate senior loan and a $1.1M preferred equity component.
Ryan Duff of Arbor’s New York City office originated the loan.
“This loan is a good example of how we at Arbor focus on relationship-building and providing our borrowers with the most beneficial loan options,” said Duff. “The preferred equity portion of the loan gives Wingate a lower cost, fixed-rate scenario that provides advantages over common equity investments.”
Built in 1965, Wingate Apartments features newly renovated one-, two- and three-bedroom rental units with amenities including high-speed internet access; washer/dryer hook-ups; and convenient access to shopping, dining and entertainment. Located in a residential section of Forest Park, the two-story apartment complex is also pet-friendly and offers spacious living interiors.
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 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.
Wingate Apartments – Forest Park, GA
Ryan Duff – Vice President, Originations