Arbor Funds $43.2M Fannie Mae DUS® Loan in Orem, UT
UNIONDALE, NY (December 19, 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 Fannie Mae DUS® loan in Orem, UT.
Wolverine Crossing, a 258-unit dedicated student housing property, received $43.2M in funding through the Fannie Mae DUS loan program. The deal comes with a 12-year term and a seven-year interest only period.
Garth Davis of Arbor’s San Francisco office originated the loan. “With this deal, we were able to provide a streamlined, early rate lock within two weeks of engaging with the client, eliminating interest rate risk exposure” Davis said. “The support from Fannie Mae was a huge value-add as it ensured the client’s terms were met. The client is now exploring three additional transactions based off the success of this deal, which is a testament to Arbor’s commitment to personalized customer service and long-term relationships.”
Located right across from Utah Valley University, Wolverine Crossing offers luxurious student housing to its residents with options for one- to four-bedroom units. Amenities include two resort-style swimming pools, two hot tubs, a professional grade fitness center, athletic courts and more.
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.
Wolverine Crossing – Orem, UT
Garth Davis – Vice President, Originations