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| Carriage Hill East Apartments, East Lansing, MI |
UNIONDALE, NY, Oct. 15, 2020 – Arbor Realty Trust, Inc(NYSE:ABR), a leading multifamily and commercial mortgage lender, recently closed several FHA transactions totaling nearly $200M across the U.S.
The loans, which span from Texas to Michigan, consist of refinance and
new construction executions.
“As we continue to grow our FHA platform, this recent volume of
funding speaks to the capabilities of Arbor’s dedicated FHA Lending Group and
demonstrates our commitment to executing loans that advance workforce housing
and energy-efficient properties,” said John Caulfield, Chief Operating Officer, Agency Lending.
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| Clearfield Station, Clearfield, UT |
“We are pleased to support our
clients’ financial needs in this low interest rate environment through our
diverse suite of FHA-insured products to help them achieve their individual
investment goals.”
Details of the Transactions
Two properties received new construction financing each with a 40-year
term through the FHA 221(d)(4) program:
Dolce Vita in
Granbury, TX,
received $24.7M. When the multifamily property opens in 2021, it will consist
of 145-units with granite countertops, stainless steel appliances and walk-in
closets. The gated-community will also include a pet play area, fitness center,
courtyard and Zen Garden.
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| Lake Forest Apartments, Norton Shores, MI |
Odyssey at Laurel Island in Kingsland, GA, received $23.4M. The complex will feature 192-units once construction is completed.
Three
additional properties received refinancing through FHA’s Interest Rate
Reduction program:
Inverness
Apartments in Hutchinson, KS, received $4M with a slightly more than 33-year term. The 54-unit pet-friendly property
is across the street from the Fair Grounds Park, which features tennis courts,
a playground and splashpad. Entertainment and restaurants are nearby.
Carriage Hill East
Apartments in East Lansing, MI, received $13.3M with a 33-year term. The community offers one- and
two-bedroom apartments and two- and three-bedroom townhomes with walk-in
closets and central air-conditioning. A resort-style swimming pool and
playground are available for residents.
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| Alpine Slopes Apartments, Comstock Park, MI, |
Austin Heights in
Waterbury, CT,
received $4.6M with a 22-year term. The low-income housing complex includes one-,
two-, three- and four-bedroom options.
A property in Utah received refinancing through the FHA 223(a)7
program:
Clearfield Station
in Clearfield, UT,
received $27.3M with a 40-year term. Built in 2018, the 216-unit complex
includes one-, two- and three-bedroom options with private balconies and
patios. The property features a fitness center, pool, playground and courtyard.
Eight
properties received refinancing, with 35-year terms through the FHA 223(f)
program:
717 Indiana Court in El Segunda, CA, received $22.5M. The multifamily property is pet-friendly and includes a pool. Local transit and retail shopping are within walking distance.
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| Summerhill Estates, Lansing, MI |
Lake Forest Apartments in Norton Shores, MI, received $18.4M. The pet-friendly multifamily property is comprised of one-, two- and three bedroom floorplans with granite kitchen countertops and walk-in closets. Muskegon County Airport is a short driving distance away.
Alpine Slopes
Apartments in Comstock Park, MI, received $16.8M. The apartment community offers one- and two-bedroom
units with wood-burning fireplaces and cathedral ceilings. The pet-friendly
property features an indoor swimming pool, large playground and business
center.
3435
Artesia Blvd. in Torrance, CA, received $12.9M. The multifamily complex features hardwood floors and a
courtyard. It is conveniently located with retail shopping nearby.
Summerhill Estates
in Lansing, MI,
received $7M. The 128-unit property offers one- and two-bedroom luxury
apartments with gas fireplaces, vaulted ceilings and walk-in closets. The
community includes a fitness center, clubhouse and picnic area. Local shopping
is nearby.
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| John Caulfield |
Live Oak Villas in George West, TX received $2M. Built in 2004, the 48-unit low-income housing complex includes one, two-, and three-bedroom floorplans.
Woodsview
Apartments in Henderson, KY, received $2M. Built in 1978, the two-story complex includes one to four
bedroom units with eat-in kitchens. The property features a playground, tennis
court, walking and hiking trials, and courtyard.
Sisson Manor in Owensboro, KY, received $1.4M. The 200-unit community features walk-in closets and a clubhouse. Retail shopping is less than a mile away.
Arbor Funds $5 Million Fannie Mae Small Loans
in Tampa, FL
UNIONDALE, NY – Arbor Realty Trust, Inc. (NYSE:ABR), a leading multifamily and
commercial mortgage lender, recently funded two Fannie Mae Small Loans in
Tampa, FL. The properties, totaling 90 units, received $5M in acquisition
financing.
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| Sam Schwass |
Sam Schwass of Arbor’s New York City office originated the loan.
“We were happy to help repeat sponsors expand their portfolio in this
growing market,” Schwass said. “At Arbor, we value nurturing long-lasting
partnerships and take pride in offering customized solutions that fulfill our
clients’ short- and long-term financial needs.”
Royal
Village Apartments
received $4M. The 68-unit multifamily complex is made up of one- and
two-bedroom floorplans. Retail shopping and the University of South Florida at
Tampa are nearby.
Sophia Villas received $910,000. Built in 1974, the two-story, 22-unit property is close to local shopping. The University of South Florida Botanical Gardens and Busch Gardens Tampa is a short driving distance away.
CONTACT:
Bina Handa
Tel: 516.506.4229
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