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| Granite Ridge Apartments, Stockton, CA |
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 five loans totaling
$19,736,000 under the Fannie Mae DUS® Multifamily Affordable
Housing (MAH) product line.
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| Alexander Kaushansky |
Alexander Kaushansky,
Vice President, Originations at Arbor Realty Trust, arranged the financing.
“Arbor’s Fannie Mae DUS
MAH product offers flexible and competitive terms to borrowers who invest in
qualified affordable housing,” Kaushansky said. “With 100% of units at all five
properties considered affordable, this transaction is a prime example of our
commitment to responding to a nationwide need.”
Apartment Corp., a
national privately held real estate investment firm with a portfolio exceeding
20,000 units, was the borrower, using the loans for both refinancing and acquisition
purposes.
"Arbor was able to
quickly arrange financing tailored to the specific needs of each one of these
properties,” said Marc Menowitz, CEO of Apartment Corp. “The maximized
loan proceeds and sheer number of products offered enabled us to improve the
quality of our expanding national portfolio."
The transactions involved:
- Pacific Pointe, Stockton, CA —
Built in 1971, this 80-unit LIHTC multifamily property received a
$3,005,000 refinancing funded under the Fannie Mae DUS MAH product line.
Since 2016, the borrower has invested approximately $150,000 in upgrades
to the property.
- Granite Ridge, Stockton, CA —
Built in 1974, this 80-unit LIHTC multifamily property received a
$3,689,000 refinancing under the Fannie Mae DUS MAH product line. Since
2016, the borrower has invested around $100,000 in upgrades to the
property.
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| Marc Menowitz |
- Yorkshire & Windsor Village,
Shreveport, LA — Built in 2000, this 132-unit LIHTC garden-style
property received $2,661,000 in acquisition financing under the Fannie Mae
DUS MAH product line. In addition to rent restrictions, the property will
keep a minimum of 15% of units available to accommodate large families,
and a minimum of 25% of units able to serve special needs groups like the
elderly and handicapped. $290,000 will go towards interior and exterior
upgrades at the property.
- Sonora Portfolio, Sonora & Jamestown, CA —
Built in 1998, this three-property, 220-unit multifamily LIHTC portfolio
received $6,700,000 in refinancing under the Fannie Mae DUS MAH
Preservation product. Since 2016, the borrower has invested approximately
$460,000 in upgrades to the property.
For more information, please contact:
Arbor Realty Trust, Inc.
333 Earle Ovington
Blvd, Suite 900
Uniondale, NY 11553
800.ARBOR.10
arbor.com
Contact: Mike Ratliff
Tel: 516.506.4221
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