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| Brownstone Apartments, Terrell, TX |
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| Stuart Gans |
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 an FHA 223(f) loan
in Terrell, Texas.
Brownstone Apartments, a 107-unit
multifamily property, received $4.1M in refinance funding under the FHA 223(f)
loan program.
The deal provides a fixed-interest rate for the entire length of
the loan.
Stuart Gans of Arbor’s Dallas
office originated the loan. “Arbor helped
our client take advantage of the amazing benefits of the FHA refinance program
for market-rate properties,” said Gans.
“The borrower wanted a fixed-interest rate for the
entire length of the loan, and needed funds for critical and noncritical
repairs.
"The FHA refinance program was the perfect solution, offering
advantages such as being non-recourse and assumable.”
Built in
1963, Brownstone Apartments are located in a suburb east of Dallas and boast
small-town living with big-city conveniences.
On-site amenities include a community picnic area, playground, security system and smoke-free areas.
On-site amenities include a community picnic area, playground, security system and smoke-free areas.
CONTACT:
Arbor
Realty Trust, Inc.
333 Earle Ovington Blvd, Suite 900
Uniondale, NY 11553
800.ARBOR.10
Bina Handa
Tel: 516.506.4229
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