Arbor Funds $6.3M Freddie Mac SBL Loans in Miami, FL
UNIONDALE, NY (June 3, 2020) – Arbor Realty Trust, Inc. (NYSE:ABR), a leading multifamily and commercial mortgage lender, recently funded Freddie Mac Small Balance loans in Miami, FL. The three properties, totaling 55 units, received $6.3M in financing.
Jonathan Chaim of Arbor’s New York City office originated the loans.
“We take pride in getting to the heart of our clients’ needs and helping them achieve their short- and long-term goals,” Chaim said. “These transactions demonstrate Arbor’s ability to build ongoing and successful financial partnerships with our sponsors.”
Bayshore Apartments, located one block from Biscayne Bay and a short distance to Miami Shores, received $2.7M in acquisition financing. The 24-unit multifamily property is made up of one- and two-bedroom floorplans.
Morningside Apartments, an 11-unit garden-style complex, received $1.2M in refinancing. The property is within walking distance of retail shopping and public transportation is nearby.
The 63rd Street Apartments received $2.4M in refinance funding. Renovated in 2018, the 20-unit garden-style property features one- and two-bedroom units. The complex is within a short driving distance to Miami International University of Art and Design and Miami Dade College.
Arbor Realty Trust, Inc. (NYSE:ABR) is a nationwide real estate investment trust and direct lender, providing loan origination and servicing for multifamily, single-family rental (SFR) portfolios, 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.
63rd Street Apartments
Jonathan Chaim – Originator