Wednesday, February 27, 2019

Arbor Funds $9.6 Million Fannie Mae MAH Portfolio in Baton Rouge, LA



Austin Walker
UNIONDALE, NY– Arbor Realty Trust, Inc. (NYSE:ABR) a leading multifamily and commercial mortgage lender, recently funded a Fannie Mae MAH loan portfolio in Baton Rouge, LA.

Pelican Bay Apartments, Baton Rouge, LA

The three properties, totaling 248 units, received $9.6M in funding through the program. The loan provides a 10-year fixed rate term with 9.5-year yield maintenance, and a 30-year amortization schedule.

Austin Walker of Arbor’s New York City office originated the loan.

“With this deal, we were able to provide a cross-collateralized, non-recourse loan for three properties well situated in Louisiana’s capital city,” Walker said.

Howell Place Apartments, Baton Rouge, LA

 “We worked with first-time sponsors and were able to structure an innovative, customized deal providing refinancing for one property and acquisition funding for the other two purchases.”

Pelican Bay Apartments: Built in 2001 and comprised of 152 units, this property offers on-site maintenance, a playground and beautifully furnished interiors. Pelican Bay is also close to three area colleges including Louisiana State University; Southern University and A&M College; and Baton Rouge Community College.

Pirates Bend Apartments, Baton Rouge, LA

Howell Place: Built in 2002, this 48-unit property features a clubhouse, on-site maintenance and apartments with walk-in closets and washer/dryer hookups. Howell Place was built in part with financing obtained through the Low Income Housing Tax Credit (LIHTC) program and provides apartments for low-income households through Section 8 Housing Choice Vouchers. 

Pirates Bend: Built in 2002, this property has 48 units and offers one to four bedroom floorplans. The community offers a clubhouse, lounge, and a fitness center. Pirates Bend is located close to neighborhood parks and the Baton Rouge Metropolitan Airport.


Bina Handa
Tel: 516.506.4229


Arbor Funds $1.7 Million Freddie Mac SBL Deal in Chickasha, OK



Eric Regenbogen
UNIONDALE, NY– Arbor Realty Trust, Inc. (NYSE:ABR) a leading multifamily and commercial mortgage lender, recently funded a Freddie Mac SBL deal in Chickasha, OK.

Winding Creek Apartments, a 50-unit multifamilyproperty, received $1.7M in funding through the program with a 10-year hybrid term.

Eric Regenbogen of Arbor’s New York City office originated the loan.

Winding Creek Apartments,  Chickashaw, OK
“The client stressed the importance of closing the deal by the end of the year for tax purposes,” Regenbogen said. “Arbor was able to execute efficiently and in an expedited manner.

"The deal exemplifies Arbor’s commitment to quality and service for all of our borrowers.”

Built in 1974, Winding Creek offers newly renovated, pet-friendly apartments in a peaceful country setting. Amenities include 24-hour maintenance, on-site laundry facilities and eight acres of lush rolling hills for residents to enjoy.

Contact:

Bina Handa
Tel: 516.506.4229


Arbor Funds $38.6 Million Fannie Mae DUS® Loan in Norcross, GA



Stephen York
UNIONDALE, NY– Arbor Realty Trust, Inc. (NYSE:ABR), a leading multifamily and commercial mortgage lender, recently funded a Fannie Mae DUS® loan in Norcross, GA.

Fields at Peachtree Corners, a 490-unit multifamily luxury property, received $38.6M in funding through the program. The deal provides a 12-year fixed rate term with a 6-year interest only period, and a 30-year amortization schedule.

Stephen York, of Arbor’s New York City office, originated the loan. 

“We were pleased to provide aggressive high-leverage financing, along with an attractive rate and maximum I/O, for our client,” York said.

Fields at Peachtree Corners Apartments, Norcross, GA
 “The property was recently renovated thanks to a $3M capital improvement plan. The new sponsors are planning continued renovations for more than 100 units and exterior enhancements to boost curb appeal. This will help the property remain well situated in the highly competitive Peachtree Corners submarket.”

Built in 1973, the apartment complex offers deluxe in-house features including granite countertops; oversized walk-in closets; washer/dryer connections; central heating and air; and private patios and balconies.

The community amenities include a state-of-the-art fitness center, Olympic-sized swimming pool, tennis and volleyball courts, a soccer field, resident clubhouse, playground, and picnic area with barbecue.

Contact:

Bina Handa
Tel: 516.506.4229


Arbor Funds $7.4 Million Fannie Mae DUS® Loan in Thomasville, GA



James Fiesel
UNIONDALE, NY– Arbor Realty Trust, Inc. (NYSE:ABR) a leading multifamily and commercial mortgage lender, recently funded a Fannie Mae DUS® loan in Thomasville, GA, for a 152-unit multifamily property.

Abbey Lakes Apartment Homes received $7.4M in funding through the program with a 10-year fixed rate term.

James Fiesel of Arbor’s New York City office originated the loan.

Abbey Lakes Apartment Homes, Thomasville, GA
“Through our deep expertise and commitment to customized solutions, our team was able to provide leverage and interest only terms in a secondary market,” Fiesel said. “This successful deal execution is a testament to the borrower’s track record and Arbor’s strong partnership with Fannie Mae.”

Abbey Lake Apartment Homes, a pet-friendly community located minutes from the city, offer 1-, 2- and 3-bedroom floor plans. The amenities include two swimming pools, a fishing pond, spacious units with balconies and patios, two laundry facilities and 24-hour maintenance service.

Contact:

Bina Handa
Tel: 516.506.4229


Arbor Funds $61.2 Million Bridge Loan in Birmingham, AL


  
Joseph Charneski
UNIONDALE, NY – Arbor Realty Trust, Inc. (NYSE:ABR), a leading multifamily and commercial mortgage lender, recently funded a bridge loan in Birmingham, AL. AT&T City Center, a 30-story Class A office building, received $61.2M in bridge funding. The loan will cover acquisition costs as well as significant capital improvements.

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

AT&T City Center, Birmingham, AL

 “This bridge loan will allow our borrower to execute a major repositioning of a prominent downtown building and take advantage of the strong Birmingham fundamentals,” said Charneski.

“The significant renovations planned for the property will include a demolition of existing components as well as remodeling of the building interior and other site improvements.”

The 390-foot tower, originally known as the South Central Bell Building, opened in 1972. It includes 617,453 square feet of space and is considered to be an iconic part of the Birmingham skyline.

The borrower plans to convert the property into a mixed-use building, consisting of rental units as well as office and retail space. Added amenities will include a rooftop turf area, interior wet bar/kitchen, media room and fitness center.

Contact:

Bina Handa
Tel: 516.506.4229