Arbor Funds $5.2M Bridge Loan in Tyler, TX
UNIONDALE, NY (October 31, 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 bridge loan in Tyler, TX.
The 90-unit, townhome-style multifamily property received $5.2M in bridge funding. The deal comes with a 24-month term.
James Fiesel, of Arbor’s New York City office originated the loan. “Arbor’s bridge product will allow the borrower to capitalize on a significant value-add opportunity, while giving him options on his exit to long-term financing,” Fiesel said. “The deal execution was a true testament to Arbor’s expertise in the structured loan market.”
The property offers 1-3 bedroom units, equipped with spacious closets, natural lighting, built-in appliances, and balconies. Attached garages are also included, as well as on-site management and 24-hour maintenance. The property is walking distance to a park trail and shopping center.
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.
Multifamily Townhomes – Irving, TX
James Fiesel – Originations