Arbor Funds $8.1M Bridge Loan in Shreveport, LA
UNIONDALE, NY (March 19, 2020) – Arbor Realty Trust, Inc. (NYSE:ABR), a leading multifamily and commercial mortgage lender, recently funded a bridge loan in Shreveport, LA, for the acquisition of Willow Trace Apartments. This 192-unit property received $8.1M in financing.
Sam Schwass of Arbor’s New York City office originated the loan.
“This was an exceptional closing that was executed quickly and smoothly thanks to the experience of a highly sophisticated sponsor and the talent and expertise of our structured finance and underwriting groups,” said Schwass. “This was also a great example of how we partner with our clients to develop solutions that best meet their short- and long-term financial goals.”
Built in 1978, the two-story units that make up Willow Trace Apartments feature high-speed internet access, fireplaces, walk-in closets, air conditioning and ceiling fans. Residents enjoy balconies and patios; a grill and picnic area; an outdoor pool; and tennis courts. The complex also offers convenient access to local shopping venues, parks and recreation, including a science center, gardens and bicycle trails.
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.
Willow Trace Apartments – Shreveport, LA
Sam Schwass – Originations