Arbor Funds $47M Fannie Mae DUS® Loan in Tucker, GA
UNIONDALE, NY (April 4, 2019) – Arbor Realty Trust, Inc. (NYSE:ABR), a leading multifamily and commercial mortgage lender, recently funded a Fannie Mae DUS® loan in Tucker, GA. 13Ten Apartment Homes, a 977-unit multifamily property, received $47M in refinance funding through the program. The loan includes a 12-year fixed rate term with six years of interest only.
Stephen York of Arbor’s New York City office originated the loan.
“The closing of this deal really illustrates Arbor’s advantage as a one-stop shop for borrowers,” York said. “We originated this property as a bridge loan in 2017, and are now finishing the job via a cash-out refinance with competitive terms and interest rates. It’s proof of our commitment to clients over the life of a loan.”
Built in 1988 and renovated in 2019, 13Ten Apartment Homes is a gated community comprised of villas, lofts and townhomes that feature built-in shelfing, private balconies, breakfast bars, wood-burning fireplaces and panoramic views. Community amenities for the property include an oversized fitness center, indoor and outdoor pools, business center, dog park, car-care center, gazebo with fishing pier, and a beautiful lake.
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 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.
13Ten Apartment Homes – Tucker, GA
Stephen York – Vice President, Originations