Arbor Funds $13.7M Fannie Mae Loans in Kansas
UNIONDALE, NY (April 22, 2020) – Arbor Realty Trust, Inc. (NYSE:ABR), a leading multifamily and commercial mortgage lender, recently announced the funding of three Fannie Mae loans totaling $13.7M in Wichita, KS.
Kingston Cove Apartments received $8.9M in acquisition financing, with a 12-year fixed rate, one year of interest only payments and a 30-year amortization, through the Fannie Mae DUS® program. Set on the shore of a private 20-acre lake, the 252-unit complex includes one- and two-bedroom apartments. It also features a fitness center, pool, volleyball court, clubhouse, boat dock and on-site boat storage. Fine dining, retail shopping and OJ Watson Park are nearby.
The Danish Village Apartments received $2.1M in acquisition funding, with a 12-year fixed rate through Fannie Mae Small Loan program. The recently remodeled, 78-unit complex features spacious, one- and two-bedroom apartments with new appliances, carpets and vinyl floors. Retail shopping and the McConnell Air Force Base are within a short driving distance.
Pine Creek Apartments received $2.7M in acquisition financing, with a 12-year fixed rate and a 30-year amortization, through the Fannie Mae Small Loan program. The 68-unit property features two-bedroom apartments and a playground. Just three miles from Downtown Wichita, the complex is conveniently located to local golf courses and parks.
Eugene Yanovskiy of Arbor’s New York City office originated the loans.
“At Arbor, we value the long-term partnerships we have with our borrowers,” Yanovskiy said. “These deals exemplify our continued commitment to providing customized financial solutions for our clients to ensure they meet their intended goals.”
Arbor Realty Trust, Inc. (NYSE:ABR) is a nationwide real estate investment trust and direct lender, providing loan origination and servicing for multifamily, single-family rental (SFR) portfolios, 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.
Kingston Cove Apartments
Danish Village Apartments
Pine Creek Apartments
Eugene Yanovskiy – Originator