Arbor Funds $15.9M Bridge Deal in Live Oak, TX
UNIONDALE, NY (August 20, 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 bridge transactions for two multifamily properties in Live Oak, TX.
The two properties, comprised of 308 total units, received $15.9M in combined bridge loan funding. The deal provides a 36-month term with two 12-month extension options.
Brian Scharf of Arbor’s Uniondale office originated the loan. “We’ve established a long-term relationship with the borrower, having done deals together in many different markets,” Scharf said. “From San Antonio to Austin to Raleigh/Durham – over 30 loans total. It’s a true testament to the partnership Arbor forms with its clients.”
The properties, located in the Greater San Antonio area, were built in 1969 and 1982. Located in a fast-growing metro area, the apartments offer amenities, including three swimming pools and laundry facilities, while also being in close proximity to notable attractions such as the San Antonio River Walk, Missions National Historical Park, and The Alamo.
Arbor Realty Trust, Inc. (NYSE:ABR) is a nationwide real estate investment trust and direct lender, providing loan origination and servicing for multifamily, seniors housing, healthcare and other diverse commercial real estate assets. Headquartered in Uniondale, New York, Arbor manages a multibillion-dollar servicing portfolio, specializing in Fannie Mae, Freddie Mac and other government-sponsored enterprises, as well as CMBS, bridge, mezzanine and preferred equity lending. Rated by Standard and Poor’s and Fitch Ratings, Arbor is committed to building on its reputation for service, quality and flexibility, and dedicated to providing our clients excellence over the entire life of a loan.
Multifamily Properties – Live Oak, TX
Brian Scharf – VP, Originations