Arbor Funds $3.2M Fannie Mae Small Loan in Sun Prairie, WI
UNIONDALE, NY (April 25, 2019) – Arbor Realty Trust, Inc. (NYSE:ABR), a leading multifamily and commercial mortgage lender, recently funded a Fannie Mae Small Loan in Sun Prairie, WI. Stonewood Crossing, a 24-unit multifamily property, received $3.2M in refinance funding through the program. The loan includes a 30 year fixed-rate term and amortization schedule with one year of interest only.
Geoffrey Platt of Arbor’s New York City office originated the loan.
“With some education and guidance, Arbor was able to help first-time agency clients navigate the loan process with ease,” said Platt. “The sponsors were able to lock in long-term debt, which aligned nicely with their financial strategy. Arbor looks forward to helping these sponsors grow their portfolio.”
Built in 2018, Stonewood Crossing provides in-unit features including air conditioning, stainless steel appliances, quartz countertops, washer/dryer systems, fireplaces and balcony/patio options. Community amenities include covered parking, emergency maintenance and access to a nearby trail for jogging, hiking and cycling.
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 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.
Stonewood Crossing – Sun Prairie, WI
Geoffrey Platt – Vice President, Originations