Arbor Funds $10.6M Bridge Loan in Roseville, MI
UNIONDALE, NY (June 8, 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 bridge loan in Roseville, MI.
The 266-unit multifamily property, received $10,630,000 in acquisition funding under Arbor’s bridge loan program. The deal provides a 3-year adjustable term.
Ari Short of Arbor’s New York City office originated the loan. “This execution underscores Arbor’s ability to provide tailored solutions that support our clients through every stage of their investments,” stated Short. “Our Borrower leveraged this acquisition bridge financing to increase capacity for renovations and raise overall asset value.”
Located northeast of downtown Detroit, this property is comprised of two adjoining apartment communities built between 1965 and 1972 and offers multiple 1-2 bedroom floor plans. Amenities include laundry facilities, on-site management, playground and a swimming pool.
Multifamily Property – Roseville, MI
For over 20 years, Uniondale, NY-based Arbor Realty Trust, Inc. (NYSE:ABR) has been helping multifamily and commercial real estate clients achieve their financial goals by focusing on growing long-term relationships and conducting business as not simply another real estate lender, but a partner. We value our clients to such an extent that we are more comfortable calling them partners, and their relationships with Arbor are the foundation of our business.
Founded by Chairman and CEO Ivan Kaufman, Arbor Realty Trust, Inc. is a real estate investment trust and direct lender specializing in loan origination and servicing for multifamily, seniors housing, healthcare and other diverse commercial real estate assets. Arbor is a Top 10 Fannie Mae DUS® Multifamily Lender by volume; a Top Fannie Mae Small Loan Lender; a Freddie Mac Seller/Servicer and a Top Freddie Mac Small Balance Loan Lender; a Fannie Mae and Freddie Mac Seniors Housing Lender; an FHA Multifamily Accelerated Processing (MAP)/LEAN Lender; a HUD-approved LIHTC Lender; and a CMBS, Bridge, Mezzanine and Preferred Equity lender, consistently building on its reputation for service, quality and flexibility. With a multibillion-dollar servicing portfolio, Arbor is a primary commercial loan servicer and special servicer rated by Standard & Poor’s with an Above Average rating. Arbor is also on the Standard & Poor’s Select Servicer List and is a primary commercial loan servicer and loan level special servicer rated by Fitch Ratings.