Arbor Funds $6M Bridge Loan in Houma, LA
UNIONDALE, NY (July 24, 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 bridge loan in Houma, LA.
The multifamily property, consisting of 192 units, received $6M in refinance funding. The deal provides a 24-month term with one 12-month extension.
Samuel Schwass of Arbor’s New York City office originated the loan. “When this deal first came to Arbor, the task seemed daunting. A large multifamily complex located in Houma, LA, a market that had experienced a significant downturn, was now at risk of maturity default and needed permanent financing,” Schwass explained. “Using Arbor’s bridge platform, we were able to provide short term financing to mitigate the maturity risk, as well as provide time for our sponsors to solidify a permanent exit loan. The execution itself was seamless and it was a pleasure to work with a sophisticated group heavily invested in the Louisiana market.”
Built in 1973, the property is conveniently located within minutes of Chabert Medical Center, shopping and restaurants. Amenities include a community atmosphere, laundry facilities, 2 refreshing saltwater pools, shaded courtyards for relaxing, courtesy officers and 24-hour maintenance.
For over 20 years, Uniondale, NY-based Arbor Realty Trust, Inc. (NYSE:ABR) has been helping multifamily and commercial real estate clients achieve their financial goals by focusing on growing long-term relationships and conducting business as not simply another real estate lender, but a partner. We value our clients to such an extent that we are more comfortable calling them partners, and their relationships with Arbor are the foundation of our business.
Founded by Chairman and CEO Ivan Kaufman, Arbor Realty Trust, Inc. is a real estate investment trust and direct lender specializing in loan origination and servicing for multifamily, seniors housing, healthcare and other diverse commercial real estate assets. Arbor is a Top 10 Fannie Mae DUS® Multifamily Lender by volume; a Top Fannie Mae Small Loan Lender; a Freddie Mac Seller/Servicer and a Top Freddie Mac Small Balance Loan Lender; a Fannie Mae and Freddie Mac Seniors Housing Lender; an FHA Multifamily Accelerated Processing (MAP)/LEAN Lender; a HUD-approved LIHTC Lender; and a CMBS, Bridge, Mezzanine and Preferred Equity lender, consistently building on its reputation for service, quality and flexibility. With a multibillion-dollar servicing portfolio, Arbor is a primary commercial loan servicer and special servicer rated by Standard & Poor’s with an Above Average rating. Arbor is also on the Standard & Poor’s Select Servicer List and is a primary commercial loan servicer and loan level special servicer rated by Fitch Ratings.
Multifamily Property – Houma, LA
Samuel Schwass – Originator