Arbor Funds a $24.6M Bridge Loan Portfolio in Illinois
UNIONDALE, NY (January 27, 2020) – Arbor Realty Trust, Inc. (NYSE:ABR), a leading multifamily and commercial mortgage lender, recently funded a $24.6M portfolio in Illinois. The deal encompasses three transactions, all bridge loans for a single sponsor.
Eric Regenbogen of Arbor’s Uniondale office originated the deal.
“Through these loans, we were able to provide the borrower with the capital they required to both purchase and improve the properties,” said Regenbogen. “Once again, we are demonstrating how we can meet the needs of our partners, in this case, helping to gentrify a growing market in the greater Chicago area.”
922 N. Blvd, Oak Park, IL ($11.1M) – Built in 1969, this 56-unit, eight-story apartment complex outside of Chicago features a roof terrace, sundeck and beautiful views of the city. The property is in close walking distance to a wide range of shops, restaurants, nightlife and transportation.
930 N. Blvd., Oak Park, IL ($9.1M) – Built in 1966, this 48-unit, seven-story property offers garage parking, on-site laundry facilities and easy access to local shopping and dining venues.
2909 E. 78 Street, Chicago, IL ($4.4M) – Built in 1932, this 31-unit, four-story multifamily development is located on the desirable South Shore. The pet-friendly property features newer aluminum windows and proximity to public transportation.
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.
930 N. Blvd. – Oak Park, IL
2909 E. 78 Street, Chicago, IL
Eric Regenbogen – Originations