Arbor Funds $9.3M Bridge Loan in Miami, FL
UNIONDALE, NY (July 8, 2019) – Arbor Realty Trust, Inc. (NYSE:ABR), a leading multifamily and commercial mortgage lender, recently funded a $9.3M bridge loan in Miami, Florida. Arbor provided the loan, with a 24-month term, for the acquisition of Arlington Manor Apartments, a 91-unit multifamily property.
Alexander Kaushansky of Arbor’s New York City office originated the loan.
“We were happy to provide flexible bridge terms for our borrower so he could quickly close on the property and execute on his strategic plan before exiting to long-term financing,” said Kaushansky. “This is a great example of Arbor’s ability to provide customized solutions tailored to the unique goals and needs of our clients.”
Built in 1969, Arlington Manor Apartments offer studios to three-bedroom residences with several floor plan options. Located in the heart of North Miami, this four-story apartment complex is perfect for those seeking a suburban lifestyle close to the city.
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.
Arlington Manor Apartments – Miami, FL
Alexander Kaushansky – Vice President, Originations