Arbor Funds $16.3M Fannie Mae Loans in Myrtle Beach, SC
UNIONDALE, NY (April 2, 2020) – Arbor Realty Trust, Inc. (NYSE:ABR), a leading multifamily and commercial mortgage lender, recently funded $16.3M in Fannie Mae DUS® and Fannie Mae Small loans in Myrtle Beach, SC.
Patriots Way At The Beach Apartments received $9.6M in refinance financing, with a 12-year fixed rate, through the Fannie Mae DUS® program. The property is comprised of 110, two-bedroom units and features hardwood floors and walk-in closets. It is minutes away from the beach, with fine dining, shopping and entertainment nearby.
The 501 38th Avenue Portfolio received $2.2M in refinance, cash-out funding, with a 12-year fixed rate, through the Fannie Mae Small Loan program. Built in 1963, the 34-unit complex is a short distance from the Children’s Museum of South Carolina, Ripley’s Aquarium and local shopping.
Avenue North Apartments received $3.2M in refinance, cash-out funding, with a 12-year fixed rate, though the Fannie Mae Small Loan program. The 43-unit property is less than a half-mile from the beach, restaurants and shopping.
604 19th Street received $1.2M in refinance funding, with a 12-year fixed rate, through the Fannie Mae Small Loan program. Built in 1966, the multifamily property is made up of 17 units and is located just minutes from the beach.
Eric Regenbogen of Arbor’s Uniondale office originated the loans.
“Identifying individualized financial solutions for all our borrowers is our top priority,” Regenbogen said. “These deals provided our clients with the necessary resources to meet both their short and long-term goals.”
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.
Patriots Way – Myrtle Beach, SC
501 38th Street – Myrtle Beach, SC
Avenue North – Myrtle Beach, SC
604 19th Street – Myrtle Beach, SC
Eric Regenbogen – Originations