Arbor Funds $20.8M Arbor Bridge Loan in Clute, TX
UNIONDALE, NY (April 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 substantial Arbor bridge loan in Clute, TX. The 520-unit multifamily property received $20,800,000 in refinancing under Arbor’s bridge loan program. The deal provides a 2-year adjustable loan term.
Joseph Charneski of Arbor’s New York City office originated the loan. “Arbor delivers flexible lending options through a diverse variety of products. This transaction demonstrates Arbor’s ability to structure a bridge loan that allowed a valuable repeat borrower to acquire, gut-renovate and reposition a noncash flowing property that had more than 300 down units,” Charneski stated. With our balance sheet and extensive bridge loan experience, we are uniquely positioned to provide customized loan structures to support our borrowers’ business plans.”
Located near Lake Jackson in the Greater Houston area, this pet-friendly apartment complex offers spacious 1-2 bedroom rentals and several amenities that include three swimming pools, clubhouse, fitness center, and laundry facilities.
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’re 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 and a Top Fannie Mae Small Loan lender, a Freddie Mac Seller/Servicer and the 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 as well as 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.