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| Ryan Duff |
UNIONDALE, NY – Arbor Realty Trust, Inc. (NYSE:ABR), a
leading multifamily and commercial mortgage lender, recently funded a $10.6M
acquisition loan in Forest Park, GA.
Arbor provided the loan for Wingate Apartments, a 211-unit
complex. Financing for this acquisition includes a two-year, floating rate
senior loan and a $1.1M preferred equity component.
Ryan Duff of Arbor’s New York City office originated
the loan.
“This loan is a good example of how we at Arbor focus on
relationship-building and providing our borrowers with the most beneficial loan
options,” said Duff.
“The preferred
equity portion of the loan gives Wingate a lower cost, fixed-rate scenario that
provides advantages over common equity investments.”
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| Wingate Apartments, Forest Park, GA |
Built in 1965, Wingate Apartments features newly renovated
one-, two- and three-bedroom rental units with amenities including high-speed
internet access; washer/dryer hook-ups; and convenient access to shopping,
dining and entertainment.
Located in a residential section of Forest Park, the
two-story apartment complex is also pet-friendly and offers spacious living
interiors.
CONTACT:
Bina Handa
Tel: 516.506.4229
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