Arbor Funds $9.5M Fannie Mae DUS® Loan in Ridgeland, MS
UNIONDALE, NY (January 15, 2019) – Arbor Realty Trust, Inc. (NYSE:ABR), a real estate investment trust and national direct lender specializing in loan origination and servicing for multifamily, seniors housing, healthcare, and other diverse commercial real estate assets, recently funded a Fannie Mae DUS® Loan in Ridgeland, MS.
Ridgeland Ranch Apartments, a 138-unit multifamily property, received $9.5M in funding through the Fannie Mae DUS Loan program. The loan comes with a 12-year fixed rate term.
Ryan Duff of Arbor’s New York City office originated the loan. “Arbor was able to utilize Fannie Mae’s product towards a solution that worked for our customer in a changing rate environment,” said Duff. “The terms allowed the sponsor to lock in a low, fixed rate for 12 years and also funded capital improvements that will help enhance quality of living for the tenants.”
Built in 1974, Ridgeland Ranch Apartments offer many amenities, including wood burning fireplaces, covered balconies/patios, self-service laundry, a fitness center, playground, swimming pool and beautiful landscaping. The complex is conveniently located next to shopping centers, restaurants and recreational areas.
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 Fannie Mae, Freddie Mac and other government-sponsored enterprises, as well as CMBS, bridge, mezzanine and preferred equity lending. Rated by Standard and Poor’s and Fitch Ratings, Arbor is committed to building on its reputation for service, quality and flexibility, and dedicated to providing our clients excellence over the entire life of a loan.
Ridgeland Ranch Apartments – Ridgeland, MS
Ryan Duff – Vice President, Originations