Arbor Funds $6.4M Freddie Mac SBL Deal in Marietta, GA
UNIONDALE, NY (May 8, 2019) – Arbor Realty Trust, Inc. (NYSE:ABR), a leading multifamily and commercial mortgage lender, recently funded a Freddie Mac Small Balance Loan (SBL) in Marietta, GA. Balfour Marietta, a 98-unit multifamily property, received $6.4M in refinance funding through the transaction. The hybrid loan provides a five year, fixed-rate term.
Robert Mendeles of Arbor’s Englewood Cliffs office originated the loan.
“This borrower has closed in excess of 20 loans with Arbor across the full spectrum of our product lines. Balfour Marietta represents a refinance of a previous bridge loan the customer used to purchase the property and upgrade the units,” said Mendeles. “The borrower is a very active buyer in the Marietta market and the bridge to permanent execution is the perfect financing solution.”
Built in 1945 and fully renovated, this garden style community offers recently painted, modern exteriors with new roofs and windows. Each unit is equipped with high-end cabinetry, quartz countertops, centralized air conditioning, and new appliances, doors, lights, flooring and hardware. Balfour Marietta is about a ten minute drive to a variety of shopping venues and restaurants and SunTrust Park, home of the Atlanta Braves.
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.
Balfour Marietta – Marietta, GA
Robert Mendeles – Structured Finance Originator