Tuesday, May 2, 2017

Arbor Funds $13.5 Million in Fannie Mae Deal in Louisiana


Austin Walker

UNIONDALE, NY (May 2, 2017) - 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, has funded a loan totaling $13,470,900 for the refinance of Tangi Lakes Townhomes, located in Hammond, La. under the Fannie Mae Standard DUS® Loan program.

Austin Walker, Originations Sales Associate in Arbor’s New York office, originated the deal.

“Arbor’s underwriting and credit team did an outstanding job overcoming some significant challenges to ensure the certainty of execution I had promised for my client,” Walker said.

The 10-year refinance loans amortizes on a 30-year schedule.
Tangi Lakes Townhomes is a 185-unit multifamily property that was built in 1999 located in Southeastern Louisiana. Recent improvements consist of 67 townhouses and garden style residential buildings, which are all a combination of fourplexes and triplexes. The property is in close proximity to Southeastern Louisiana University, beautiful Downtown Hammond and all the shopping areas.

The subject property now consists of 1-, 2- and 3-bedroom apartments with a unit mix of 32 one-bedroom units, 99 two-bedroom units, and 54 three-bedroom units. Amenities include barbeque grills, controlled access gates, fitness facility, laundry facility, on-site security personnel, park/play area, and a swimming pool.

For a complete copy of the company’s news release, please contact:

Arbor Realty Trust, Inc.
 Bonnie Habyan
333 Earle Ovington Blvd, Suite 900                                                
 Tel: (516) 506-4615
Uniondale, NY 11553                                                                        



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