Arbor Funds $18M Fannie Mae Green Financing® Transaction in College Park, GA
UNIONDALE, NY (August 9, 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 Fannie Mae Green Financing® loan in College Park, GA.
Biscayne Apartments, a 370-unit multifamily property, received $18M in refinance funding through the Fannie Mae Green Financing program. The deal provides a 10-year term with a declining prepayment structure.
Joe Charneski of Arbor’s New York City office originated the loan. “The Fannie Mae Green loan was a perfect solution for my client. This loan provides not only the tools to perform energy- and water-saving retrofits, but the advantage of lower rates,” said Charneski.
Built in 1972, Biscayne Apartments are located in College Park, which is just south of Atlanta and in close proximity to Hartsfield-Jackson Atlanta International Airport and the Georgia International Convention Center. Amenities for the property include a billiards room, resort-style swimming pool, resident clubhouse, and an on-site management team.
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 Fannie Mae, Freddie Mac and other government-sponsored enterprises, as well as CMBS, bridge, mezzanine and preferred equity lending. Rated by Standard and Poor’s and Fitch Ratings, Arbor is committed to building on its reputation for service, quality and flexibility, and dedicated to providing our clients excellence over the entire life of a loan.
Biscayne Apartments – College Park, GA
Joe Charneski – Originator