Arbor Funds $14.2M Freddie Mac SBL Loans in Brooklyn, NY
UNIONDALE, NY (September 22, 2020) – Arbor Realty Trust, Inc. (NYSE:ABR), a leading multifamily and commercial mortgage lender, recently funded three Freddie Mac Small Balance Loans in Brooklyn, NY. The multifamily properties received $14.2M in refinancing, with a 10-year fixed rate through the program.
Vincent Chiodo of Arbor’s New York City office originated the loans.
“These transactions exemplify Arbor’s commitment to meeting all of our clients’ needs no matter the environment or unique circumstances,” Chiodo said. “We were able to execute these transactions successfully despite all the changes and challenges that occurred due to COVID-19.”
480 Stratford Road in Brooklyn received $5.2M in refinancing. The 15-unit mixed-use property was built in 2013 and is conveniently located with restaurants and retail shopping nearby.
1608 Beverley Road in Brooklyn received $3.4M in refinance funding. Built in 2014, the six-story, 12-unit property features hardwood floors and stainless steel appliances. The complex, just blocks away from Prospect Park, is near dining and shopping areas and less than 30 minutes from Manhattan.
596 East 19th Street in Brooklyn received $5.5M in refinancing. The 20-unit property was built in 2015 and features stainless steel appliances and large living areas. It is located in the historic district of Ditmas Park, with public transportation and retail shopping minutes away.
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.
480 Stratford Road – Brooklyn, NY
1608 Beverley Road – Brooklyn, NY
East 19th Street – Brooklyn, NY
Vincent Chiodo – Director, Originations