Thursday, May 28, 2020

Arbor Funds $10.4 Million Fannie Mae DUS® Loan in Cedar Falls, IA


 Joseph Charneski 

UNIONDALE, NY– Arbor Realty Trust, Inc. (NYSE:ABR), a leading multifamily and commercial mortgage lender, recently funded a Fannie Mae DUS® Streamlined Rate Lock loan in Cedar Falls, IA. The 180-unit property received $10.4M in financing.

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

 Thunder Ridge Apartments, Cedar Falls, IA
“This was a great transaction,” Charneski said. “We were able to close this refinance loan with full-term interest only payments and a historically low interest rate during these unprecedented times.” 

 Built in 1975, Thunder Ridge is made up of one- and two-bedroom apartments. The pet-friendly complex features a basketball court, putting green, tranquility pond and 24-hour fitness center.

 It is conveniently located within walking distance of retail stores and restaurants.  

Contact:

 Bina Handa
Tel: 516.506.4229

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