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| Garth Davis |
UNIONDALE, NY – Arbor
Realty Trust, Inc. (NYSE:ABR), a real estate investment trust and national
direct lender specializing in loan origination and servicing for multifamily,
seniors housing, healthcare and other diverse commercial real estate assets,
has announced it has funded a $27,354,000 FHA 221(d) (4) loan for the new
construction of Clearfield Station, a Class A, 216-unit multifamily building
located in Clearfield, UT.
The multifamily
construction project will be part of a larger 72-acre master-planned
development adjacent to the Clearfield FrontRunner commuter rail station owned
by the Utah Transit Authority (UTA). The developer has planned a mixed-use for
the property including office and residential spaces, an industrial park, a
school and a park, as well as parking to support the existing rail station.
The 24-month non-recourse
construction loan converts to a 40-year self-amortizing permanent loan and was
originated by Garth Davis, Senior
Vice President, Western Regional Director, based in Arbor’s San Francisco
office.
For a complete copy of the company’s
news release, please contact:
Bonnie Habyan
Arbor Realty Trust, Inc.
Tel: (516) 506-4615
333 Earle Ovington Blvd,
Suite 900
bhabyan@arbor.com
Uniondale, NY 11553
1-800-ARBOR-10
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