Sunday, May 12, 2019

Arbor Funds $6.4 Million Freddie Mac SBL Deal in Marietta, GA


Robert Mendeles
                                
 UNIONDALE, NY – Arbor Realty Trust, Inc. (NYSE:ABR), a leading multifamily and commercial mortgage lender, recently funded a Freddie Mac Small Balance Loan (SBL) in Marietta, GA.

Balfour Marietta, a 98-unit multifamily property, received $6.4M in refinance funding through the transaction. The hybrid loan provides a five year, fixed-rate term.

Balfour Marietta Apartments, Marietta, GA
Robert Mendeles of Arbor’s Englewood Cliffs office originated the loan.

“This borrower has closed in excess of 20 loans with Arbor across the full spectrum of our product lines," said Mendeles.  "Balfour Marietta represents a refinance of a previous bridge loan the customer used to purchase the property and upgrade the units.

“The borrower is a very active buyer in the Marietta market and the bridge to permanent execution is the perfect financing solution.

Contact:

 Bina Handa
Tel: 516.506.4229

No comments: