Arbor Funds $120M in Freddie Mac Multifamily Transactions Across U.S.
UNIONDALE, NY (Oct. 11, 2016) – 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, has funded 28 loans totaling $120,844,000 across Kansas, Florida, California and other states under the Freddie Mac Conventional Multifamily Loan and Freddie Mac Multifamily Small Balance Loan products.
Ronen Abergel, Vice President in Arbor’s New York office, originated the loans.
Kansas – $4.2M
- Hillsdale Apartments, Topeka, KS – This 94-unit multifamily property received $2,555,000 funded under the Freddie Mac Multifamily Small Balance Loan product line. The five-year refinance loan amortizes on a 30-year schedule.
- Prospect Hills Apartments, Topeka, KS – This 66-unit multifamily property received $1,610,000 funded under the Freddie Mac Multifamily Small Balance Loan product line. The five-year refinance loan amortizes on a 30-year schedule.
Florida – $12.7M
- Swann’s Cover, Lakeland, FL – This 120-unit multifamily property received $4,750,000 funded under the Freddie Mac Multifamily Small Balance Loan product line. The 10-year refinance loan amortizes on a 30-year schedule.
- Bay Vista & Magnolia Place, Tampa, FL – This 94-unit multifamily property received $4,100,000 funded under the Freddie Mac Multifamily Small Balance Loan product line. The 10-year refinance loan amortizes on a 30-year schedule.
- Serenity Towers, Sanford, FL – This 158-unit multifamily property received $3,800,000 funded under the Freddie Mac Multifamily Small Balance Loan product line. The 10-year refinance loan amortizes on a 30-year schedule.
California – $46.5M
- Los Angeles Portfolio, Los Angeles, CA – Thirteen multifamily properties containing a combined total of 420 units received individual loans under the Freddie Mac Multifamily Small Balance Loan product line totaling an aggregate of $37,913,000. Each individual seven-year refinance loan will amortize on a 30-year schedule.
- 4451 Lockwood Avenue, Los Angeles, CA – This 41-unit multifamily property received $3,890,000 funded under the Freddie Mac Multifamily Small Balance Loan product line. The five-year hybrid loan amortizes on a 30-year schedule.
- 13 East Adams Boulevard, Los Angeles, CA – This 18-unit multifamily property received $3,370,000 funded under the Freddie Mac Multifamily Small Balance Loan product line. The five-year hybrid loan amortizes on a 30-year schedule.
- 3049 West 11th Street, Los Angeles, CA – This 12-unit multifamily property received $1,310,000 funded under the Freddie Mac Multifamily Small Balance Loan product line. The five-year hybrid loan amortizes on a 30-year schedule.
Pennsylvania – $45M
- Multifamily Property, Pennsylvania – This 250-unit multifamily property received $45,000,000 funded under the Freddie Mac Conventional Multifamily Loan product line. The 10-year refinance loan amortizes on a 30-year schedule.
Oklahoma – $2.85M
- Country Village Apartments, Norman, OK – This 100-unit multifamily property received $2,846,000 funded under the Freddie Mac Multifamily Small Balance Loan product line. This is a five-year hybrid loan with a 20-year term.
New York – $1.0 M
- Fulton Street, Brooklyn, NY – This five-unit multifamily property received $1,000,000 funded under the Freddie Mac Multifamily Small Balance Loan product line. This is a five-year hybrid loan with a 20-year term.
Minnesota- $4.6M
- Maple Plain Apartments, Maple Plain, MN – This 47-unit multifamily property received $2,704,000 funded under the Freddie Mac Multifamily Small Balance Loan product line. The 10-year acquisition loan amortizes on a 30-year schedule.
- Manchester Place Apartments, Maple Plain, MN – This 30-unit multifamily property received $1,896,000 funded under the Freddie Mac Multifamily Small Balance Loan product line. The 10-year refinance loan amortizes on a 30-year schedule.
New Hampshire – $4.1M
- Burns Hills Apartments, Hudson, NH – This 56-unit multifamily property received $2,800,000 funded under the Freddie Mac Multifamily Small Balance Loan product line. The 10-year refinance loan amortizes on a 30-year schedule.
- Heon Court, Nashua, NH – This 24-unit multifamily property received $1,300,000 funded under the Freddie Mac Multifamily Small Balance Loan product line. The 10-year refinance loan amortizes on a 30-year schedule.
A majority of the loans referenced above were closed prior to Arbor Realty Trust’s acquisition of Arbor Commercial Mortgage’s commercial real estate financing business. Those loans were closed exclusively under Arbor Commercial Mortgage.