Arbor Funds $19.7M in Multifamily Loans Across Florida
UNIONDALE, NY (November 9, 2020) – Arbor Realty Trust, Inc. (NYSE:ABR),a leading multifamily and commercial mortgage lender, recently funded six multifamily transactions across Florida. The properties, consisting of 216 units, received $19.7M in financing.
James Fiesel of Arbor’s New York City office originated the loans.
“Our team offers competitive terms across a variety of product types,” Fiesel said. “Arbor is committed to providing all of our clients with customized financial solutions that align with their short- and long-term needs.”
A Hialeah property received financing through the Fannie Mae DUS® Standard Loan program:
Hilton Estates received $9.7M in acquisition funding with a 10-year term in the third quarter of 2020. Built in 1989, the 66-unit property is pet-friendly. Florida National College and Miami Dade College are nearby.
The following three properties received funding through the Fannie Mae DUS® Small Loan program:
Parkview Apartments in Eustis, received $3.1M in refinancing with a 10-year term in the second quarter of 2020. Built in 1971, the 56-unit pet-friendly community is near to retail shopping and Trout Lake Nature Center.
1621 NW 19th Street in Miami, received $1.6M in refinancing with a 12-year term in the third quarter of 2020. The multifamily complex is made up of 20 units with new kitchen cabinets and granite countertops.
6791 NW 22nd Ave. in Miami, received $2.1M in refinancing with a 12-year term in the fourth quarter of 2020. The two-story, garden low-rise features 36 units with central air conditioning. Local transportation and Miami Dade College are a short driving distance away.
Two additional properties received funding through the Freddie Mac Small Balance Loan program:
Spruce Apartments in West Palm Beach, received $1.5M in acquisition financing in the second quarter of 2020. The two-story, gated community consists of 18 units and features a Zen garden. It is in close proximity to Four Arts Gardens and retail shopping.
1362 SW 2nd Street in Miami, received $1.7M in refinancing in the fourth quarter of 2020. The recently renovated 20-unit property includes one- and two-bedroom offerings with tile flooring. Local transit, retail shopping and the Vizcaya Museum and Gardens are a short driving distance away.
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.
Hilton Estates – Hialeah, FL
1621 NW 19th Street – Miami, FL
Spruce Apartments – West Palm Beach, FL
James Fiesel – Originations