Arbor Funds $16M Freddie Mac Conventional Loan in Kansas City, MO
UNIONDALE, NY (May 22, 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 a Freddie Mac Conventional loan in Kansas City, MO.
Lakeview Terrace, a 541-unit manufactured property, received $16,000,000 for refinancing under the Freddie Mac Conventional product line. The transaction provides a 10-year fixed rate, with a 3-year interest-only term.
Jason Scott, Regional Managing Director, Southeast, originated the loan. “Arbor was able to provide significant return of equity to the Sponsor who, since acquiring the property in 2015, created meaningful value through exceptional property management and a strong leasing program,” Scott stated. “The Sponsor was very pleased with both the rate and proceeds level.”
Centrally located just north of the Missouri River, Lakeview Terrace was built in 1970 and offers newly renovated affordable mobile homes. Amenities include a clubhouse, leasing office, two swimming pools, basketball court and a playground in a charming landscaped community.
Lakeview Terrace – Kansas City, MO
For over 20 years, Uniondale, NY-based Arbor Realty Trust, Inc. (NYSE:ABR) has been helping multifamily and commercial real estate clients achieve their financial goals by focusing on growing long-term relationships and conducting business as not simply another real estate lender, but a partner. We value our clients to such an extent that we are more comfortable calling them partners, and their relationships with Arbor are the foundation of our business.
Founded by Chairman and CEO Ivan Kaufman, Arbor Realty Trust, Inc. is a real estate investment trust and direct lender specializing in loan origination and servicing for multifamily, seniors housing, healthcare and other diverse commercial real estate assets. Arbor is a Top 10 Fannie Mae DUS® Multifamily Lender by volume; a Top Fannie Mae Small Loan Lender; a Freddie Mac Seller/Servicer and a Top Freddie Mac Small Balance Loan Lender; a Fannie Mae and Freddie Mac Seniors Housing Lender; an FHA Multifamily Accelerated Processing (MAP)/LEAN Lender; a HUD-approved LIHTC Lender; and a CMBS, Bridge, Mezzanine and Preferred Equity lender, consistently building on its reputation for service, quality and flexibility. With a multibillion-dollar servicing portfolio, Arbor is a primary commercial loan servicer and special servicer rated by Standard & Poor’s with an Above Average rating. Arbor is also on the Standard & Poor’s Select Servicer List and is a primary commercial loan servicer and loan level special servicer rated by Fitch Ratings.