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| Lakeview Terrace, Kansas City, MO |
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, recently funded a Freddie Mac Conventional loan in Kansas City,
MO.
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| Jason Scott |
Lakeview
Terrace, a 541-unit manufactured property, received
$16,000,000 for refinancing under the Freddie Mac Conventional product line.
The transaction provides a 10-year fixed rate, with a 3-year interest-only
term.
Jason Scott,
Regional Managing Director, Southeast, originated the loan. “Arbor was able to
provide significant return of equity to the Sponsor who, since acquiring the
property in 2015, created meaningful value through exceptional property
management and a strong leasing program,” Scott stated. “The Sponsor was very
pleased with both the rate and proceeds level.”
Centrally located just
north of the Missouri River, Lakeview Terrace was built in 1970 and offers
newly renovated affordable mobile homes. Amenities include a clubhouse, leasing
office, two swimming pools, basketball court and a playground in a charming
landscaped community.
For
more information, please contact:
Bina Handa
Tel: 516.506.4229
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