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| Ryan Duff |
UNIONDALE, NY – Arbor Realty Trust,
Inc. (NYSE:ABR), a leading
multifamily and commercial mortgage lender, recently financed a Fannie Mae
Small Loan in Kingston, PA.
Chapin
Apartments received $3.4M in cash-out refinance funding through the program.
This is a 7-year deal with a 30-year amortization.
Ryan Duff of Arbor’s New York City office originated
the loan.
“This transaction provided our client the capital they
needed to continue to build their portfolio,” said Duff. “At the same time,
they were able to secure favorable rates for this loan, making it an ideal
solution all around.”
Chapin
Apartments at 151 East Walnut Street is a garden-style community comprised
of four buildings and a total of 60 units. While the units were built in 1939
and 1950, most were renovated in 2018.
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| Chapin Apartments,151 East Walnut Street Kingston, PA |
The complex features a fitness center,
resident lounge, storage lockers and a covered parking garage across the
street. It is also conveniently located near local shopping, parks and
recreation.
Contact:
Bina
Handa
Tel: 516.506.4229
bhanda@arbor.com
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