Arbor Funds $7.5M Fannie Mae DUS® Seniors Housing Loan in Hamden, CT
UNIONDALE, NY (May 1, 2019) – Arbor Realty Trust, Inc. (NYSE:ABR), a leading multifamily and commercial mortgage lender, recently funded a Fannie Mae DUS® Seniors Housing Loan in Hamden, CT. Meadow Mills Assisted Living & Memory Care, a 60-unit assisted living facility, received $7.5M in refinance funding through the program. The loan includes a 10 year, fixed-rate term on a 30-year amortization schedule.
Ari Short of Arbor’s New York City office originated the loan.
“We were pleased to offer our client a $7.5M cash-out refinance of this assisted living property in Hamden, CT,” said Short. “The borrowers effectively executed their business plan to increase revenue since acquisition, and we were able to structure a loan featuring a return of equity to investors, while securing long term debt at an attractive rate.”
Built on two quiet acres, Meadow Mills Assisted Living & Memory Care provides its residents with all-inclusive services and amenities including a well-trained nursing staff, spacious dining halls serving nutritious meals, and life enrichment programs featuring music therapy, memory games, socialization events and more. The facility also provides housekeeping and laundry services. The community provides a high caregiver-to-resident ratio and is fully equipped to accommodate guests with Alzheimer’s disease and dementia.
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.
Meadow Mills Assisted Living & Memory Care – Hamden, CT
Ari Short – Originations