Thursday, August 8, 2019

Arbor Funds $101.6 Million Bridge Portfolio in Birmingham, AL

  
Joseph Charneski

                                     
UNIONDALE, NY– Arbor Realty Trust, Inc. (NYSE:ABR), a leading multifamily and commercial mortgage lender, recently funded a bridge portfolio in Birmingham, AL. 

The Contour Development Portfolio consists of two properties: The Park at Callington and Carlyle Apartments, and The Park at Buckingham.

The Contour Development Portfolio consists of two properties: The Park at Callington and Carlyle Apartments, and The Park at Buckingham

The Park at Callington and Carlyle, a 1,233-unit multifamily property, received $63.2M in funding through the program while The Park at Buckingham, a 583-unit multifamily property, received $38.4M.

Joseph Charneski of Arbor’s New York City office originated the loan.

The Park at Callington and Carlyle, built in 1978, offers spacious apartments featuring walk-in closets, private balconies, plantation blinds and ornamental chair rails. The property offers three swimming pools, a fitness center, illuminated volleyball and tennis courts, a playground and an on-site coffee bar.

The Park at Buckingham was built in 1972 and fully renovated in 2007. This gated community features many outdoor amenities including a cyber café, pools, a playground, and lighted tennis and volleyball courts.

Contact:

Bina Handa
Tel: 516.506.4229

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