Arbor Funds $39.3M Fannie Mae DUS® Green Rewards Loan in CA
UNIONDALE, NY (November 6, 2019) – Arbor Realty Trust, Inc. (NYSE:ABR), a leading multifamily and commercial mortgage lender, recently funded a Fannie Mae DUS® Green Rewards loan in California. The property received $39.3M in funding through a 15-year loan with full term interest only from the program.
Alexander Kaushansky of Arbor’s New York City office originated the loan.
“Our client’s goal was to acquire a core asset that they plan on holding in a stable growing market,” said Kaushansky. “We helped them take advantage of the low interest rate environment with creative green financing, which lowered their interest rate and their annual utility costs. The loan’s structure achieved the borrower’s current and future goals.”
Built in 1983, Canyon Crest Views in Riverside, CA, offers one-, two- and three-bedroom townhomes and apartments with private garage parking. The garden-style multifamily property features two beautiful swimming pools, a multilevel fitness center and clubhouse. The upscale, 178-unit complex is located steps away from Canyon Crest Town Centre and more than 80 businesses and restaurants.
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.
Canyon Crest Views – Riverside, CA
Alexander Kaushansky – Vice President, Originations