Arbor Funds $9.4M Fannie Mae DUS® Portfolio in Jonesboro, AR
UNIONDALE, NY (March 18, 2019) – Arbor Realty Trust, Inc. (NYSE:ABR), a leading multifamily and commercial mortgage lender, recently funded a Fannie Mae DUS® portfolio in Jonesboro, AR. Fox Run Apartments, a 76-unit multifamily property, received $5.2M in funding through the program while Hidden Pointe Apartments, a 60-unit multifamily property, received $4.2M. The terms included a 12-year fixed rate, with an interest only period, on a 30-year amortization schedule.
Jonathan Chaim of Arbor’s New York City office originated the loan.
Built in 2011, Fox Run Apartments offer a private and convenient lifestyle in a gated community setting. The pet-friendly community provides covered parking and in-unit washers/dryers. The property is also close to area retail stores.
Hidden Pointe Apartments, built in 2012, is a gated community with on-site property management and maintenance. The residences are equipped with granite countertops, full-size washers/dryers and walk-in closets. The property is located in the center of town, next to a mall and a variety of retail shops and restaurants.
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.
Fox Run Apartments
Hidden Pointe Apartments
Jonathan Chaim – Originations