Arbor Funds $2.7M Freddie Mac SBL Deal in Chicago, IL
UNIONDALE, NY (August 8, 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 Small Balance Loan in Chicago, IL.
The property, a 50-unit multifamily building located at 4831-39 N. Kimball Ave., received $2.7M in refinance funding through the deal. The loan provides a 10-year fixed term, a 60% Loan-to-Value Ratio, and a 1.50 Debt-Service Coverage Ratio.
Sam Gold of Arbor’s Chicago office originated the loan. “It’s always exciting to work with a first-time agency borrower, in part for the opportunity to build a long-term relationship,” said Gold. “This loan was a cash-out refinance deal customized to address the specific needs of the borrower. It was a door-to-door transaction and it moved quickly – only 45 days.”
Built in 1921, the property is located in Chicago’s Northwest Side. It is in close vicinity to the Ravenswood Manor Historic District and River Park, and just 4 miles away from Wrigley Field.
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.
4831-39 N. Kimball Ave. – Chicago, IL
Sam Gold – Originator