Arbor Funds $11.9M Fannie Mae Green Financing® Loan in Bountiful, UT
UNIONDALE, NY (November 20, 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 Fannie Mae Green Financing® loan in Bountiful, UT.
Carrington Place, a 142-unit multifamily property, received $11.9M in funding through the Fannie Mae Green Financing® loan program. The deal provides a 10-year fixed term and a 30-year amortization schedule.
Garth Davis of Arbor’s San Francisco office originated the loan. “The investors, through Arbor’s capital markets group and deep relationships within the market, were able to aggressively price the deal,” said Davis. “The result was a lower spread that was passed onto the client with a lower than expected interest rate – all of which made the client very happy.”
Carrington Place provides a wealth of features and amenities, including laundry facilities, covered parking, storage units, private balconies, and emergency maintenance, as well as recreation options consisting of a spa, swimming pool, basketball court, tennis court, and playground.
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 Fannie Mae, Freddie Mac and other government-sponsored enterprises, as well as CMBS, bridge, mezzanine and preferred equity lending. Rated by Standard and Poor’s and Fitch Ratings, Arbor is committed to building on its reputation for service, quality and flexibility, and dedicated to providing our clients excellence over the entire life of a loan.
Carrington Place – Bountiful, UT
Garth Davis – Senior Vice President, Originations