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| 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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