Arbor Funds $9M Fannie Mae DUS® Small Loans Across UT
UNIONDALE, NY (November 3, 2020) – Arbor Realty Trust, Inc. (NYSE:ABR), a leading multifamily and commercial mortgage lender, recently funded four Fannie Mae DUS® Small Loans in Utah. The properties, totaling 120 units, received $9M in refinancing.
Austin Walker of Arbor’s New York City office originated the loans.
Sandbox Apartments in Salt Lake City, UT, received $1.6M with a 10-year term in the second quarter of 2020. The 22-unit complex was built in 1960 and is conveniently located with Salt Lake Central Station, parks and shopping nearby.
Three additional properties received refinancing in the third quarter of 2020:
Twin Terrace & Scotsman Village in Logan, UT, received $5M with a 12-year term. The pet-friendly complexes are comprised of 66 units in total. Utah State University is less than a mile away.
Meadow Park in Tremonton, UT, received $1.3M with a 10-year term. The multifamily property is made up of 16 residential units, and is adjacent to a park with pavilion, playground, baseball field and tennis courts.
Logan Canyon in Logan, UT, received $1.1M with a 10-year term. Built in 1965 and renovated in 2019, the garden-style, low rise includes 16 units. Retail shopping and dining are nearby.
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.
Twin Terrace – Logan, UT
Logan Canyon – Logan, UT
Sandbox Apartments – Salt Lake City, UT
Austin Walker – Originations