Arbor Funds $6.4M Fannie Mae DUS® Loan in Philadelphia, PA
UNIONDALE, NY (March 22, 2019) – Arbor Realty Trust, Inc. (NYSE:ABR), a leading multifamily and commercial mortgage lender, recently funded a Fannie Mae DUS® loan in Philadelphia, PA. 1155 South 15th Street, a 39-unit multifamily property, received $6.4M in funding through the program. The deal includes a seven-year fixed rate with two years interest only terms.
Jared Stein of Arbor’s New York City office originated the loans.
“This deal provided a cash-out refinance on a newly constructed multifamily property,” Stein said. “We leveraged Arbor’s expertise and experience in the market in order to set up the borrower with permanent financing to further acquire and develop new assets in the Philadelphia area.”
Built in 2018, this brand new luxury building is conveniently located next to public transportation and shops in Philadelphia’s Point Breeze neighborhood. The property includes a shared backyard and residences featuring central air, washer/dryer machines, and gourmet-style kitchens.
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.
1155 S 15th Street – Philadelphia, PA
Jared Stein – Originations