Arbor Funds $156.7M in Multifamily Loans in NY, OH and IL
UNIONDALE, NY (January 9, 2019) – 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 55 loans totaling $156.7M in New York, Ohio and Illinois.
Multifamily Property Portfolio, New York, NY: These properties received $151.3M in total funding through the Freddie Mac SBL product, making this the largest portfolio since the inception of the program.
401 E. 136th St., Bronx, NY: This nine-unit multifamily property received $1.8M in refinance funding through the Freddie Mac SBL program. The deal provides a five-year hybrid term and a 30-year amortization schedule.
Village On Courtright Apartments, Columbus, OH: This 24-unit multifamily property received $762,000 in acquisition funding through the Fannie Mae Small Loan program. The deal provides a 12-year fixed rate term with a one-year interest only period, followed by 30-year amortization schedule.
Pine Hill Townhomes, Columbus, OH: This 32-unit multifamily property received $1M in acquisition funding through the Freddie Mac SBL program. The deal provides a 10-year hybrid term with a three-year interest only period, followed by a 30-year amortization schedule.
1616 E. 75th St., Chicago, IL: This eight-unit multifamily property received $1.7M in refinance funding through the Fannie Mae Small Loan program. The deal provides a 15-year fixed rate term and 30-year amortization schedule.
Ari Short of Arbor’s New York City office originated the loans. “This group of closings demonstrates Arbor’s ability to meet our clients’ unique needs through diverse, flexible and customized loan products,” said Short. “Closing Freddie Mac’s largest portfolio was a gratifying accomplishment and we look forward to continued growth with both Freddie Mac and Fannie Mae.”
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 – NY, OH, IL
Ari Short – Director, Originations