Arbor Funds Fannie Mae Small Loans Totaling $8.3M in Philadelphia, PA, and Milwaukee, WI
UNIONDALE, NY (August 27, 2019) – Arbor Realty Trust, Inc. (NYSE:ABR), a leading multifamily and commercial mortgage lender, recently financed two Fannie Mae Small Loans providing $8.3M in acquisition funding. 6161 Ridge Ave. in Philadelphia, PA, a 27-unit, four-story complex, received $5.4M, while 28 West Apartments in Milwaukee, WI, an 89-unit, three-story property, received $2.9M.
Eric Regenbogen of Arbor’s Uniondale office originated the loans.
“This is a perfect example of how acquisitions in two different markets benefitted from customized Fannie Mae executions,” said Regenbogen. “And, it clearly demonstrates Arbor’s superior expertise and deep relationships with the lending agencies.”
Located in the Roxborough area of Philadelphia, 6161 Ridge Ave. delivers amenities ranging from stainless steel appliances to on-site parking options. It’s also a quick walk or drive to local shopping centers, colleges, mass transit and recreation.
28 West Apartments is conveniently located near downtown Milwaukee with easy highway access. The residences feature new kitchen cabinets, countertops and appliances; spacious closets; wall-to-wall carpeting and window coverings; on-site laundry facilities; and 24-hour emergency maintenance.
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.
6161 Ridge Ave. – Philadelphia, PA
28 West Apartments – Milwaukee, WI
Eric Regenbogen – Originator