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| Greensboro, NC Apartments |
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
Greensboro, NC.
The 336-unit multifamily
property received $17M in bridge funding. The deal provides a 36-month term
along with two 12-month extension options.
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| Brian Scharf |
"We were pleased to secure these funds to support our
borrower’s growth strategy and plans to utilize the proceeds for key interior
renovations and new appliances,” said Scharf.
“Having now closed
more than 25 deals with this client, it was gratifying to support our long term
relationship through this customized, highly leveraged, value-add solution.”
The property exists on 25
acres of land and includes its own private lake. Additional features include a
clubhouse, storage rooms, two pools and laundry facilities. Units are equipped
with HVAC systems, modern kitchen appliances and washer/dryer hookups.
CONTACT:
Bina Handa
Tel: 516.506.4229
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