Sunday, December 2, 2018

Arbor Funds $2.2 Million Fannie Mae ARM 7-6™ Loan in Oklahoma City, OK


Raleigh Square Apartments, Oklahoma City, OK

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 Fannie Mae Adjustable Rate Mortgage (ARM) 7-6™ loan in Oklahoma City, OK.

Raleigh Square Apartments, a 105-unit multifamily property, received $2.2M in funding through the Fannie Mae ARM 7-6 loan program. The deal provides a 7-year term with an adjustable rate and a 30-year amortization schedule. There is also an option to convert to a 7- or 10-year fixed term in years 2-6 of the loan, penalty free.

Austin Walker
Austin Walker of Arbor’s New York City office originated the loan.

 “This loan was an example of Arbor’s flexibility and certainty of execution,” said Walker. “We gave the borrower the ability to close on time and build in additional funds for capital improvements without taking on high interest bridge debt.

"In addition, the flexibility of the conversion to a fixed rate option gave the borrower peace of mind in a rising rate environment.”

Built in 1984, Raleigh Square Apartments are conveniently located near Will Rogers World Airport. The pet-friendly gated community offers a wide selection of features and amenities, including a community picnic area, pool and playground; convenient on-site parking; laundry facilities, and smoke-free options.

CONTACTS: 
                                                                       
Arbor Realty Trust, Inc.
333 Earle Ovington Blvd, Suite 900
Uniondale, NY 11553
800.ARBOR.10

Contact: Bina Handa
Tel: 516.506.4229

No comments: