Arbor Funds $68.6M Fannie Mae Streamlined Rate Lock Portfolio in Dallas-Fort Worth, TX
UNIONDALE, NY (November 4, 2019) – Arbor Realty Trust, Inc. (NYSE:ABR), a leading multifamily and commercial mortgage lender, recently funded five refinance cash-out loans totaling $68.6M under the Fannie Mae Streamlined Rate Lock product line for conventional multifamily housing. The loans provide 12-year fixed terms with six years of interest only.
Vincent Chiodo of Arbor’s New York City office originated the loans.
“The Streamlined Rate Lock product helps our clients flexibly manage their interest rate risk,” said Chiodo.“It’s also a great example of the wide range of innovative solutions Arbor provides our borrowers, in this case, conventional multifamily properties looking to lock in favorable rates early on in the loan.”
This portfolio consists of more than 1,100 units. The two-story properties in the Dallas-Fort Worth region were recently refurbished with many indoor and outdoor amenities, and easy access to nearby cities, dining, parks, recreation and entertainment.
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.
Vincent Chiodo – Originator