Wednesday, June 14, 2017

Arbor Funds $28M New Construction Loan in Clearfield, UT

Garth Davis
UNIONDALE, NY – 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 announced it has funded a $27,354,000 FHA 221(d) (4) loan for the new construction of Clearfield Station, a Class A, 216-unit multifamily building located in Clearfield, UT. 

The multifamily construction project will be part of a larger 72-acre master-planned development adjacent to the Clearfield FrontRunner commuter rail station owned by the Utah Transit Authority (UTA). The developer has planned a mixed-use for the property including office and residential spaces, an industrial park, a school and a park, as well as parking to support the existing rail station.

The 24-month non-recourse construction loan converts to a 40-year self-amortizing permanent loan and was originated by Garth Davis, Senior Vice President, Western Regional Director, based in Arbor’s San Francisco office.

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

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

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