Saturday, June 8, 2019

Arbor Funds $10.6 Million Acquisition Loan in Forest Park, GA


                                     
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.”

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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