Arbor Funds $7.7M Fannie Mae MAH Loan in New Orleans, LA
UNIONDALE, NY (December 16, 2019) – Arbor Realty Trust, Inc. (NYSE:ABR), a leading multifamily and commercial mortgage lender, recently financed a Fannie Mae MAH loan in New Orleans, LA. The 159-unit, received $7.7M in funding through the program. The loan provides a 10-year fixed rate with three years of interest only payments.
Austin Walker of Arbor’s New York City office originated the loan.
“Arbor’s strong partnership with Fannie Mae, along with our ability to find creative financial solutions for our clients, allowed us to offer three years initial interest only payments, which was critical to closing this transaction,” Walker said. “We are committed to helping clients meet their goals through customized and innovative products.”
Skyview Terrace was built in 1975. The two-story property offers one- and three-bedroom apartments, a laundry facility and a courtyard. It is conveniently located to retail shopping and dining, and only a few miles away from downtown New Orleans and the French Quarter.
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.
Skyview Terrace – New Orleans, LA
Austin Walker – Originations