Arbor Funds $15M Fannie Mae DUS® Loan in Waterloo, IA
UNIONDALE, NY (April 13, 2020) – Arbor Realty Trust, Inc. (NYSE:ABR), a leading multifamily and commercial mortgage lender, recently funded a Fannie Mae DUS® loan in Waterloo, IA. The property received $15M in refinance funding through the program, with a 15-year fixed rate and four years of interest only payments.
“It was a pleasure working with Marcus and Millichap to assist an experienced sponsor in executing a well-orchestrated business plan,” Fiesel said. “Despite uncertain economic conditions, Arbor was able to deliver a favorable rate and terms that aligned with the borrower’s needs.”
The Grand Crossing is a mixed-use property that features 104 residential units, with stainless steel appliances, a community workout facility and underground parking garage. The complex also has four ground floor commercial spaces, including Jimmy John’s Gourmet Sandwiches and Sidecar Coffee.
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.
The Grand Crossing – Waterloo, IA
James Fiesel – Originations