Tuesday, April 14, 2020

Arbor Funds $15 Million Fannie Mae DUS® Loan in Waterloo, IA


 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 Waterloo, IA.

The property received $15M in refinance funding through the program, with a 15-year fixed rate and four years of interest only payments.

 “It was a pleasure working with Marcus and Millichap to assist an experienced sponsor in executing a well-orchestrated business plan,” said.Arbor originations specialist James Fiesel.

 “Despite uncertain economic conditions, Arbor was able to deliver a favorable rate and terms that aligned with the borrower’s needs.”

 The Grand Crossing is a mixed-use property that features 104 residential units, with stainless steel appliances, a community workout facility and underground parking garage.

The complex also has four ground floor commercial spaces, including Jimmy John’s Gourmet Sandwiches and Sidecar Coffee.

Contact:

 Bina Handa
Tel: 516.506.4229

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