Arbor Funds $7.3M Fannie Mae Green Financing® Loan in Barstow, CA
UNIONDALE, NY (November 26, 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 Fannie Mae Green Financing® loan in Barstow, CA.
Pueblo Del Montara, a 158-unit multifamily property, received $7.3M in funding through the Fannie Mae Green Financing loan program. The deal provides a 10-year fixed term and a 30-year amortization schedule.
Greg Gillam of Arbor’s Manhattan Beach office originated the loan. “Originally, this was a poorly managed property,” Gillam said. “The borrower purchased it with the intent of not only improving the condition, but making it more energy efficient. As such, the Fannie Mae Green Financing solution worked perfectly as it offered great incentives to the client.”
Built in 1982, Pueblo Del Montara offers features and amenities consisting of laundry facilities, on-site maintenance, assigned parking, a common patio, and a swimming pool. The units are equipped with HVAC systems, carpeted floors, dishwashers, and walk-in closets.
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.
Pueblo Del Montara – Barstow, CA
Greg Gillam – Vice President, Originations