Thursday, September 26, 2019

Arbor Funds $1.2 Million Freddie Mac Small Balance Loan (SBL) in Fallbrook, CA


                                     
Greg Gillam
  
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 Fallbrook, CA.
Buena Altura Apartments, a 10-unit apartment building, received $1.2M in refinance cash-out funding through the program. The loan includes a 10-year, fixed-rate term with three years interest only and stepdown prepayment
 Greg Gillam of Arbor’s Manhattan Beach office originated the loan.
 “The borrower purchased this property about two years ago and spent quite a bit of money improving it. Arbor was able to provide favorable financing through Freddie Mac that included a return of part of the cash invested in the enhancements.”
10-Unit Buena Altura Apartments, Fallbrook, CA
 Built in 1979 and renovated recently, the units on this property offer laundry facilities, high speed internet access and close proximity to local shopping centers.
The complex enjoys the blend of rural tranquility, natural beauty, rolling hills and suburban lifestyle that characterizes the Fallbrook community of northern San Diego.
Contact:

Bina Handa
Tel: 516.506.4229

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