Arbor Funds $22M Fannie Mae DUS® Loan in Charlotte, NC
UNIONDALE, NY (November 26, 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 DUS® loan in Charlotte, NC.
Pressley South End Apartments, a 504-unit multifamily property, received $22M in funding through the Fannie Mae DUS loan program. The deal is fixed for 12 years with an interest only period.
James Fiesel of Arbor’s New York City office originated the loan. “The sponsorship team was able to execute their business plan and add significant value to the property over the past year,” Fiesel said. “As a result, Arbor and Fannie Mae provided the aggressive loan terms that this sponsor and asset warranted.”
Centrally located in Charlotte, Pressley South End Apartments offer a wealth of in-unit and community features. Personal amenities include fully equipped kitchens, large closets, plush carpeting, and washer/dryers in every unit. Community amenities include a landscaped picnic area, recreational playground, soccer field and basketball court, as well as on-site property management and maintenance.
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.
Pressley South End Apartments – Charlotte, NC
James Fiesel –Originations