Arbor Funds $54M in Multifamily Deals in Northeast and Louisiana
UNIONDALE, NY (June 7, 2017) – 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, announced the recent funding of seven loans totaling $54,977,649 under the Fannie Mae DUS® Loan, Fannie Mae DUS® Small Loan, Freddie Mac SBL, and Arbor Bridge and CMBS product lines:
Multifamily Property, Bridgeport, CT: This 32-unit multifamily property received $1,880,000 funded under the Freddie Mac SBL product line. The 20-year acquisition loan has a fixed rate for 10 years and amortizes on a 30-year schedule.
Commercial Property, Westbrook, CT: This commercial property received $32,600,000 funded under Arbor’s balance sheet bridge loan program. The loan, structured as a 3-year interest only floating rate loan with two 1-year extension periods, allowed the borrower to acquire the property and provide Tenant Improvement capital to execute a new long term 10- year lease to H&M, which will substantially improve the operating cash flow.
Mixed Use Multifamily Property, Brooklyn, NY: This 8-unit multifamily property, anchored by a commercial-use ground floor, received $4,620,000 funded under the Arbor CMBS Loan product line. The 10-year refinance loan amortizes on a 30-year schedule and provides significant equity recapture for future acquisitions.
Multifamily Property, Yonkers, NY: This 18-unit multifamily property received $1,580,784 funded under the Fannie Mae Small Loan product line. The 7-year acquisition loan amortizes on a 30-year schedule.
Multifamily Property, Philadelphia, PA: This 7-unit multifamily property received $856,845 funded under Fannie Mae Small Loan product line. The 10-year acquisition loan amortizes on a 30-year schedule.
Tangi Lakes Townhomes, Hammond, LA: The 185-unit multifamily property received $13,470,900 funded under the Fannie Mae DUS® Loan product line. The 10-year loan amortizes on a 30-year schedule.
Austin Walker in Arbor’s New York City office originated all of the loans. “All of the borrowers in these transactions benefitted from Arbor’s expansive product offerings, ranging from the flexible terms provided by our agency products to structured, CMBS, and small loan programs. Our multifamily lending options allow us to provide customized and personalized solutions for all financial situations and locations.”
About Us
For over 20 years, Uniondale, NY-based Arbor Realty Trust, Inc. (NYSE: ABR) has been helping multifamily and commercial real estate clients achieve their financial goals by focusing on growing long-term relationships and conducting business as not simply another real estate lender, but a partner. We value our clients to such an extent that we’re more comfortable calling them partners, and their relationships with Arbor are the foundation of our business.
Founded by Chairman and CEO Ivan Kaufman, Arbor Realty Trust, Inc. is a real estate investment trust and direct lender specializing in loan origination and servicing for multifamily, seniors housing, healthcare and other diverse commercial real estate assets. Arbor is a Top 10 Fannie Mae DUS® Multifamily Lender by volume and a Top Fannie Mae Small Loan lender, a Freddie Mac Seller/Servicer and the Top Freddie Mac Small Balance Loan Lender, a Fannie Mae and Freddie Mac Seniors Housing Lender, an FHA Multifamily Accelerated Processing (MAP)/LEAN Lender, a HUD-approved LIHTC Lender as well as a CMBS, Bridge, Mezzanine and Preferred Equity lender, consistently building on its reputation for service, quality and flexibility. With a current servicing portfolio of more than $13 billion, Arbor is a primary commercial loan servicer and special servicer rated by Standard & Poor’s with an Above Average rating. Arbor is also on the Standard & Poor’s Select Servicer List and is a primary commercial loan servicer and loan level special servicer rated by Fitch Ratings. Arbor Realty Trust is externally managed and advised by Arbor Commercial Mortgage, LLC.