Saturday, June 9, 2018

Arbor Funds $10.6 Million Bridge Loan in Roseville, MI


  
Ari Short

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 bridge loan in Roseville, MI.

The 266-unit multifamily property, received $10,630,000 in acquisition funding under Arbor’s bridge loan program. The deal provides a 3-year adjustable term.

Ari Short of Arbor’s New York City office originated the loan. “This execution underscores Arbor’s ability to provide tailored solutions that support our clients through every stage of their investments,” stated Short. “Our Borrower leveraged this acquisition bridge financing to increase capacity for renovations and raise overall asset value.”

Located northeast of downtown Detroit, this property is comprised of two adjoining apartment communities built between 1965 and 1972 and offers multiple 1-2 bedroom floor plans. Amenities include laundry facilities, on-site management, playground and a swimming pool.
  
For more information, please contact:

Bina Handa
Tel: 516.506.4229


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