Arbor Funds $15.4M Fannie Mae Loans in Texas
UNIONDALE, NY (May 13, 2020) – Arbor Realty Trust, Inc. (NYSE:ABR), a leading multifamily and commercial mortgage lender, recently funded $15.4M in Fannie Mae loans in Texas.
Kenwood Heights Apartments in Corsicana, TX, received $8.2M in acquisition financing, with a 12-year fixed rate, one year of interest only payments and 30-year amortization through the Fannie Mae DUS® program. Built in 1984, the pet-friendly property is made up of 211 residential units. Retail shopping and Navarro College are located nearby.
Bella Brisa Apartments in Laredo, TX, received $3.2M in refinance funding, with a 10-year fixed-rate, two years of interest only payments and 30-year amortization through the Fannie Mae DUS® Small Loans program. The multifamily property was built in 2012 and includes 42 units.
Monaco Blvd. Apartments in Laredo, TX, received $4M in refinance funding, with a 10-year fixed-rate, two years of interest only payments and 30-year amortization through the Fannie Mae DUS® Small Loans program. Built in 2013, the multifamily property features 44 units.
Jared Stein of Arbor’s New York City office originated the loans.
“Partnerships are the lifeline of our business,” Stein said. “Together, Arbor and Fannie Mae remain committed to providing liquidity to the workforce housing sector during these unprecedented times.”
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.
Kenwood Heights – Corsicana, TX
Bella Brisa – Laredo, TX
Monaco Blvd. – Laredo, TX
Jared Stein – Originations