Arbor Funds $23M Fannie Mae DUS® Green Rewards Loan in Pembroke Park, FL
UNIONDALE, NY (August 12, 2019) – Arbor Realty Trust, Inc. (NYSE:ABR), a leading multifamily and commercial mortgage lender, recently funded a Fannie Mae DUS® Green Rewards Loan in Pembroke Park, FL. The property received $23M in cash-out refinancing through the program. The loan provides a 12-year fixed, full term rate with four years of interest only.
Alexander Kaushansky of Arbor’s New York City office originated the loan.
“We were glad to provide the bridge debt in order for our client to stabilize and create value for Azure Villas and our borrower was also excited to take advantage of the low rate FNMA loan,” Kaushansky said. “Arbor’s multiple products and seamless transition to permanent financing are integral to the success of strong real estate owners and operators.”
Azure Villas, a 226-unit multifamily garden-style property, was built in 1971. On-site amenities include a swimming pool, clubhouse, playground and common laundry area. Azure is centrally located just minutes from downtown Ft. Lauderdale and Miami with easy access to premium shopping, dining, entertainment and nightlife.
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.
Azure Villas – Pembroke Park, FL
Alexander Kaushansky – Vice President, Originations