Arbor Funds $10M Fannie Mae DUS® Green Loan in San Diego, CA
UNIONDALE, NY (May 18, 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, announced the recent funding of $10,600,000 in Fannie Mae DUS Green Rewards product for the refinancing of Pebble Cove Apartments, a multifamily property in San Diego, California.
Jared Stein of Arbor’s New York City office arranged financing for the property. The transaction was structured with a fixed rate, 15-year loan term with 5-years interest only.
“Utilizing the Fannie Mae Green Rewards program allowed for the flexibility needed to lock in highly competitive financing terms, while also saving the Borrower a significant amount of money on utilities,” said Jared Stein. “The advantage of the green financing program is simple and undeniable – it creates a “triple bottom line” that allows for strong cash flow, high-quality housing and a reduced environmental impact.”
Built in 1979, Pebble Cove Apartments features 85 units in a garden style layout. Amenities include a swimming pool, two central laundry rooms, a playground, garage spaces and an access gate.
Pebble Cove Apartments – San Diego, California
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’re 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 and a Top Fannie Mae Small Loan lender, a Freddie Mac Seller/Servicer and the 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 as well as 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.