Arbor Funds $4.9M Freddie Mac Loan Deal in Sandy Springs, GA
UNIONDALE, NY (September 28, 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 Small Balance Loan in Sandy Springs, GA.
The Park Village Apartments, a 68-unit multifamily building located at 4689 Roswell Road, received $4.9M in refinance funding through the deal. The loan provides a 5-year fixed term.
Robert Mendeles of Arbor’s New Jersey office originated the loan. “It was rewarding to work with a repeat Arbor borrower,” said Mendeles. “It’s a refinance of an Arbor loan on the same property that was initially executed in 2016. The owner requested refinancing at a higher loan amount for significant capital improvements to the property.”
Built in 1964, the garden property is located in Sandy Springs and is part of the Atlanta Metropolitan Area. Recent capital improvements to the building include new roofing, hot water heaters, and HVAC equipment, along with new flooring and kitchen appliances for several units.
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.
4689 Roswell Road – Sandy Springs, GA
Robert Mendeles – Originator