Arbor Funds $5M Freddie Mac SBL Deal in Capitol Heights, MD
UNIONDALE, NY (April 3, 2019) – Arbor Realty Trust, Inc. (NYSE:ABR), a leading multifamily and commercial mortgage lender, recently funded a Freddie Mac SBL deal in Capitol Heights, MD. Crest Apartments, a 44-unit multifamily property, received $5M in funding through the program. The deal features a 10-year hybrid term with one year of interest only and a 30-year amortization schedule.
Sam Schwass of Arbor’s New York City office originated the loans.
“This deal was a prime example of Arbor’s ability to execute on any loan,” Schwass said. “Our team overcame many hurdles and was driven by our expertise in the agency space. In the end, we were able to successfully create a package that perfectly fit our sponsor’s request. Now we look forward to establishing a long-term relationship with an experienced investor in the DC market!”
Built in 1972, Crest Apartments are located in Prince George’s County near Route 4 and the Capital Beltway (I-495). The property offers 1-, 2- and 3-bedroom residences, on-site parking, air conditioning and wheelchair accessibility.
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.
Crest Apartments – Capitol Heights, MD
Sam Schwass – Originations