Arbor Funds $18.3M Fannie Mae ARM 7-6™ Loan in Houston, TX
UNIONDALE, NY (May 16, 2019) – Arbor Realty Trust, Inc. (NYSE:ABR), a leading multifamily and commercial mortgage lender, recently funded a Fannie Mae Loan in Houston, TX. This multifamily property received $18.3M in refinance funding under the Fannie Mae ARM 7-6™ program.
Matt Norman of Arbor’s Bloomington, Indiana, office originated the loan.
“The property provided us with an excellent opportunity to help the owner refinance from an acquisition bank loan to a more permanent Fannie floating rate loan. The flexibility of the ARM payoff gives the owner the option to sell or refinance again in the near future,” said Norman. “Through this deal, we were able to free trapped equity for future purchases and provide a lower rate, all in a timely manner.”
Built in 1982, this gated community offers a fitness center, spa, pool and concierge. The apartments feature walk-in closets, crown molding, fireplaces and storage units available for rent.
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 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.
Matt Norman – Vice President, Originations