Tuesday, December 25, 2018

Arbor Funds $17 Million Bridge Loan in Greensboro, NC

 
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.

Brian Scharf
Brian Scharf of Arbor’s Uniondale office originated the loan.

"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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