Friday, September 1, 2017

Arbor Funds $15M in Multifamily Deals in Midwest and California

                                           

 
Michael Noll
 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, announced the recent funding of seven loans totaling $15,048,000 under the Fannie Mae DUS® Loan, Fannie Mae DUS® Small Loan, and Freddie Mac SBL product lines.

Michael Noll, an Originator Sales Associate located in Arbor’s New York City office, originated all of the loans and stated, “As demonstrated by these transactions, the flexibility of our multifamily lending options allows us to provide customized solutions across the country.

“Arbor is uniquely positioned as a one-stop-shop for multifamily owners with the wide variety of products and loan structures necessary to help all our clients meet their business goals.”


Hillside Terrace Apartments, Spring Valley, CA: This 16-unit multifamily asset consists of two, 2-story buildings totaling 24,394 square feet situated on 0.56 acres. Constructed in 1986, the property received $2,000,000 funded under the Freddie Mac Small Balance Loan product with a 20-year fixed-to-floating rate amortizing on a 30-year schedule and one year of interest-only payments.

Perrin Apartments, Ypsilanti, MI: This 23-unit property received $1,720,000, funded under the Freddie Mac Small Balance Loan product. Cash-out refinance proceeds were used towards the acquisition of Eastwood Terrace and the transactions were run concurrently.

Eastwood Terrace Apartments, Ypsilanti, MI: This 84-unit multifamily asset received $4,620,000 funded under the non-recourse FNMA DUS Loan product line. The 7-year acquisition loan amortizes on a 30-year schedule with 5 years of yield maintenance. The loan included proceeds to be used for capital improvements.


Brookside Villas, Edmond, OK
Brookside Villas, Edmond, OK: This newly constructed 20-unit multifamily property with 19 units and 1 model/office unit received $1,310,000 funded under the Freddie Mac Small Balance Loan product. The transaction was a cash-out refinance for first-time Freddie Mac clients.

 Mixed-Use, Multifamily Property, Chicago, IL: This 12-unit multifamily property, anchored by 2,266 square feet ground floor retail space, received $2,350,000 funded under the Freddie Mac Hybrid ARM. Built in 1885, the property was completely rehabbed in 2016. The 20-year term is fixed for the first 10 years and floating for the next 10 years, with interest-only for 3 years and the remaining term amortizing over a 30-year schedule.

Parkview Arms, Oxford, OH: This 86-unit multifamily, garden style property was refinanced through the FNMA MAH Small Loan program. The property consisting of six, 2-story apartment buildings and three non-residential buildings (storage buildings) received $2,688,000 structured as a 10-year fixed-rate term with 9.5 years of yield maintenance and a 30-year amortization schedule. 

Multifamily Property, San Diego, CA: This 18-unit multifamily property received $1,580,784 funded through the Fannie Mae Small Loan product line. The loan had a 20-year hybrid term with 4.5-year yield maintenance through the fixed-rate term and 1% thereafter on a 30-year amortization schedule.


For more information on this news release, please contact:


 Arbor Realty Trust, Inc.                                                      
Bonnie Habyan
333 Earle Ovington Blvd, Suite 900                                    
Tel: 516.506.4615
Uniondale, NY 11553                                         
800.ARBOR.10
 bhabyan@arbor.com                                                                                          



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