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| Michael Noll |
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,
announced the recent funding of seven loans totaling $15,048,000 under the
Fannie Mae DUS® Loan, Fannie Mae DUS® Small Loan, and Freddie Mac SBL product
lines.
Michael Noll,
an Originator Sales Associate located in Arbor’s New York City office,
originated all of the loans and stated, “As demonstrated by these transactions,
the flexibility of our multifamily lending options allows us to provide
customized solutions across the country.
“Arbor is uniquely
positioned as a one-stop-shop for multifamily owners with the wide variety of
products and loan structures necessary to help all our clients meet their
business goals.”
Hillside Terrace Apartments, Spring Valley, CA: This 16-unit multifamily asset consists of two,
2-story buildings totaling 24,394 square feet situated on 0.56 acres.
Constructed in 1986, the property received $2,000,000 funded under the Freddie
Mac Small Balance Loan product with a 20-year fixed-to-floating rate amortizing
on a 30-year schedule and one year of interest-only payments.
Perrin Apartments, Ypsilanti, MI: This 23-unit property received $1,720,000, funded
under the Freddie Mac Small Balance Loan product. Cash-out refinance proceeds
were used towards the acquisition of Eastwood Terrace and the transactions were
run concurrently.
Eastwood Terrace Apartments, Ypsilanti, MI: This 84-unit multifamily asset received $4,620,000
funded under the non-recourse FNMA DUS Loan product line. The 7-year
acquisition loan amortizes on a 30-year schedule with 5 years of yield
maintenance. The loan included proceeds to be used for capital improvements.
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| Brookside Villas, Edmond, OK |
Brookside Villas, Edmond, OK: This newly constructed 20-unit multifamily property
with 19 units and 1 model/office unit received $1,310,000 funded under the
Freddie Mac Small Balance Loan product. The transaction was a cash-out
refinance for first-time Freddie Mac clients.
Mixed-Use,
Multifamily Property, Chicago, IL:
This 12-unit multifamily property, anchored by 2,266 square feet ground floor
retail space, received $2,350,000 funded under the Freddie Mac Hybrid ARM.
Built in 1885, the property was completely rehabbed in 2016. The 20-year term
is fixed for the first 10 years and floating for the next 10 years, with
interest-only for 3 years and the remaining term amortizing over a 30-year
schedule.
Parkview Arms, Oxford, OH: This 86-unit multifamily, garden style property was
refinanced through the FNMA MAH Small Loan program. The property consisting of
six, 2-story apartment buildings and three non-residential buildings (storage
buildings) received $2,688,000 structured as a 10-year fixed-rate term with 9.5
years of yield maintenance and a 30-year amortization schedule.
Multifamily Property, San Diego, CA: This 18-unit multifamily property received $1,580,784
funded through the Fannie Mae Small Loan product line. The loan had a 20-year
hybrid term with 4.5-year yield maintenance through the fixed-rate term and 1%
thereafter on a 30-year amortization schedule.
For more information on this news release, please contact:
Arbor Realty Trust, Inc.
Bonnie Habyan
333 Earle Ovington Blvd,
Suite 900
Tel: 516.506.4615
Uniondale, NY 11553
800.ARBOR.10
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