Arbor Funds $14M in Green Rewards for Acquisition of Multifamily Community in Charlotte, NC
UNIONDALE, NY (April 11, 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, today announced the recent funding of a $14,080,000 Fannie Mae DUS® Green Rewards loan for the acquisition of Crown Point Townhouses (formerly East Lake Apartments), a multifamily community in Charlotte, NC.
Alexander Kaushansky, Vice President, Originations at Arbor Realty Trust, arranged the acquisition financing for Friedlam Partners LLC. The deal was structured with a 10-year, fixed-rate term with a 3-year interest-only period.
“By utilizing the unique step-down prepayment premium of the Green Rewards loan, we were able to offer the borrower a flexible payment structure,” Kaushansky said. “This is yet another example of how Arbor tailors every loan solution to best fit the specific needs of each client, ensuring that their investment goals are successfully supported and achieved.”
Crown Point Townhouses was constructed in 1972. The property is characterized by 214 two-bedroom units and a garden-style layout. Each unit is a spacious 1,200 square feet and comes equipped with washer/dryer hookups. Amenities include 24-hour maintenance, landscaped grounds, exterior storage, a junior Olympic pool, a picnic area and private patios.
“This funding will allow us to implement a large-scale capital expenditure program,” said Nathan Friedman, Principal of Friedlam Partners. “We plan on upgrading the unit interiors, landscaping, leasing office, pool and common areas in addition to adding a playground and dog park.”
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.