Arbor Funds $10.8M Fannie Mae DUS® Loan in Houston, TX
UNIONDALE, NY (April 17, 2019) – Arbor Realty Trust, Inc. (NYSE:ABR), a leading multifamily and commercial mortgage lender, recently funded a Fannie Mae DUS® deal in Houston, TX. Capewood Apartments, a 176-unit multifamily property, received $10.8M in refinance funding through the program. The loan includes a seven-year fixed rate term.
Brian Scharf of Arbor’s Uniondale office originated the loans.
“On this property, we worked with a repeat sponsor who has a significant presence in the Houston market,” Scharf said. “By offering prepayment flexibility and a fixed rate conversion option, we were able to accommodate key financing needs. This deal demonstrates our commitment to customer service and building enduring partnerships with our clients.”
Built in 1976, Capewood Apartments offer garden style residences with newly renovated interiors. The property features a number of community amenities including a swimming pool, playground, laundry facility, automatic access gates and on-site maintenance. Capewood is pet friendly and in walking distance to public transportation.
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.
Capewood Apartments – Houston, TX
Brian Scharf – Vice President, Originations