Arbor Funds $3.2M Fannie Mae DUS® MAH Loan in Mercedes, TX
UNIONDALE, NY (June 21, 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 Multifamily Affordable Housing (MAH) Loan in Mercedes, TX.
La Herencia Apartments, a 160-unit multifamily property, received $3,255,000 for nonrecourse MAH refinancing. The deal was structured under MAH Preservation Tier III, with a 12-year fixed-rate term on a 30-year amortization schedule.
Matt Norman of Arbor’s Dallas office originated the loan. “Through Arbor’s diligence and commitment to develop customized solutions, we were able to structure terms that were equitable to all parties. The creative intelligence at the beginning of the process was paramount to a successful transaction.”
Built in 1998, La Herencia Apartments is located in Hidalgo County and is part of the McAllenEdinburg-Mission metropolitan areas. This quiet community offers 1-3 bedroom floor plans in a garden style layout. Amenities include a clubhouse, leasing office, business center, laundry facility, a playground and swimming pool.
La Herencia Apartments – Mercedes, TX
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.