Arbor Funds $18.2M Bridge Loan in College Park, GA
UNIONDALE, NY (November 17, 2020) – Arbor Realty Trust, Inc. (NYSE:ABR), a leading multifamily and commercial mortgage lender, recently funded a bridge loan in College Park, GA. The 220-unit property received $18.2M in acquisition funding.
Joseph Charneski of Arbor’s New York City office originated the deal.
“We were pleased to assist repeat sponsor, Sureste Partners, LP, continue their growth in the metropolitan Atlanta area,” Charneski said. “This loan provided our borrower with the renovation dollars needed to implement their capital improvement plan and to reposition the property in the marketplace.”
The Life at Avery Park was built in 1970. The pet-friendly complex includes spacious two- and three-bedroom floorplans with granite countertops and stainless steel appliances. Surrounded by lush landscape, the multifamily property features a swimming pool with sun deck and new playground. It is conveniently located with office parks, Hartsfield-Jackson Atlanta International Airport, and public transportation nearby.
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 Life at Avery Park – College Park, GA
Joseph Charneski– Vice President, Originations