Arbor Funds $22.3M Fannie Mae DUS® Loan in Summerville, SC
UNIONDALE, NY (August 6, 2019) – Arbor Realty Trust, Inc. (NYSE:ABR), a leading multifamily and commercial mortgage lender, recently funded a Fannie Mae DUS® loan in Summerville, SC. The property received $22.3M in funding through the program and the loan provides a 12-year fixed rate with five years’ interest only.
Brian Scharf of Arbor’s Uniondale office originated the loan.
“As a national direct lender, Arbor has the nationwide expertise required to meet borrower demands no matter where they do business, including thriving markets such as South Carolina,” Scharf said. “Arbor also provides the personal service needed for investors to take advantage of today’s strong multifamily market conditions.”
A 182-unit property, 4830 Wescott Apartments was built in 2018. The amenities for this garden-style multifamily residence include a swimming pool, fitness and business centers, and a clubhouse. The community is located within a top-rated school district and close to recreation and retail.
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.
4830 Wescott Apartments – Summerville, SC
Brian Scharf – Vice President, Originations