Arbor Funds $13M FHA 223(f) Loan in East Lansing, MI
UNIONDALE, NY (May 17, 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 FHA 223(f) refinancing loan in East Lansing, MI.
Glenwood Apartments, a 138-unit multifamily property, received $13,000,000 for refinance cash out. The FHA 223(f) loan was structured with a fixed-rate, 35-year term.
Michael Jehle of Arbor’s Oklahoma office arranged financing for the property. “Our longtime repeat Borrower was interested in taking advantage of the many benefits of the HUD 223(f) loan program,” stated Jehle. “As a HUD-approved Multifamily Accelerated Processing (MAP) lender, Arbor is able to secure extremely competitive long-term, fixed-rate financing to satisfy every client need.”
Conveniently located near Michigan State University and Lansing Community College East, Glenwood Apartments historically enjoys full occupancy year after year and features fully remodeled 2-4 bedroom rentals. Amenities include large balconies, swimming pool, 24-hour fitness studio, laundry facilities, clubhouse and ample parking options.
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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.