Arbor Funds $4.1M Fannie Mae DUS® Loan in Indianapolis, IN
UNIONDALE, NY (May 19, 2020) – Arbor Realty Trust, Inc. (NYSE:ABR), a leading multifamily and commercial mortgage lender, recently funded a Fannie Mae DUS® Loan in Indianapolis, IN. Three Fountains West Cooperative, a multifamily affordable housing property, received $4.1M in refinance funding through the program.
Michael Jehle of Arbor’s Oklahoma office originated the loan.
“This transaction involved the refinancing of an existing loan on our books that was maturing,” Jehle said. “The members of this cooperative wanted to pay off their loan as quickly as possible and we were delighted to help them achieve this goal by offering a self-amortizing, straight 15-year fixed rate loan at an interest rate significantly lower than their current mortgage rate.”
Built in 1972, Three Fountains West Cooperative is comprised of one-, two- and three-bedroom units. The newly renovated complex includes a large community building and playgrounds, and is conveniently located near public transportation and retail shopping.
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.
Three Fountains West Cooperative – Indianapolis, IN
Michael Jehle – Vice President, Originations