Arbor Funds $3M Freddie Mac SBL Deal in Brooklyn, NY
UNIONDALE, NY (December 12, 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 Freddie Mac SBL deal in Brooklyn, NY.
352 Weirfield Street, a six-unit multifamily property, received $3M in funding through the Freddie Mac SBL program. The deal comes with a five-year hybrid term and a 30-year amortization schedule.
Geoffrey Platt of Arbor’s New York City office originated the loan. “Arbor was able to utilize the Freddie Mac SBL program to allow a repeat client the opportunity to take equity out of their recently completed construction project and put it into new developments in the neighborhood,” Platt said. “It’s a testament to the flexibility of Arbor’s loan product suite.”
352 Weirfield Street is a newly constructed, walk-up style building located in the rapidly developing Brooklyn neighborhood of Bushwick. The units are equipped with shaker style kitchen cabinets, modern appliances and central HVAC systems. Building amenities include a common laundry room, tenant lounge, backyard patio and roof deck.
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.
352 Weirfield Street – Brooklyn, NY
Geoffrey Platt – Vice President, Originations