Saturday, December 14, 2019

Arbor Funds $1.7 Million Fannie Mae Small Loan in Bloomington, IN

Matt Norman

UNIONDALE, NY – Arbor Realty Trust, Inc. (NYSE:ABR), a leading multifamily and commercial mortgage lender, recently funded a Fannie Mae Small Loan in Bloomington, IN.
Beacon Hill Townhomes, Bloomington, IN
The deal received $1.7M in financing through the program, with a 10-year fixed rate, one-year of interest only payments, and a 30-year amortization schedule.

Matt Norman of Arbor’s Bloomington, Indiana, office originated the loan.
“When financing opportunities, and thus the acquisition window, looked slim due to parceling issues, Arbor stepped in and coordinated with Fannie Mae to structure a permanent loan, at an attractive rate that met the buyer’s return estimates,” Norman said.
 “The transaction also represented the first partnership between Arbor’s Central Indiana office and Alec Neesham of Marcus and Millichap Capital Corporation’s Indianapolis office.”

Chestnut Hill Apartments, Bloomington, IN
The Beacon Hill Townhomes and Chestnut Hill Apartments were built in 1993. The 15-unit complexes are conveniently located near downtown Bloomington and within close proximity of shopping, recreation and Indiana University at Bloomington.


 Bina Handa
Tel: 516.506.4229

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