Arbor Funds $6.4M Freddie Mac SBL Deal in Hendersonville, NC
UNIONDALE, NY (November 14, 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 Freddie Mac SBL deal in Hendersonville, NC.
Charleston at the Meadows, an 84-unit, multifamily property, received $6.4M in hybrid refinancing through the Freddie Mac SBL program. The 20-year loan provides for a 7-year fixed period followed by a 13-year floating rate. It also offers a waiver of the prepayment percentage during the floating period.
Jonathan Chaim of Arbor’s New York City office originated the loan. “We worked with a local family investment group with generational experience but new to agency loans,” Chaim said. “Our borrower liked the nonrecourse component offered by Freddie Mac loans. They also appreciated the rate lock feature that protected them from multiple rate increases during the application process.”
Charleston at the Meadows is conveniently located near downtown Hendersonville and just a short drive to the heart of Asheville. Amenities in this pet-friendly community include on-site management, stainless steel appliances, hardwood floors, and air conditioning and washer/dryer machines in every unit.
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.
Charleston at the Meadows – Hendersonville, NC
Jonathan Chaim – Originations