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| 352 Weirfield Street, Brooklyn, NY |
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 Freddie Mac SBL deal in Brooklyn, NY.
352 Weirfield
Street, a six-unit multifamily
property, received $3M in funding through the Freddie Mac SBL program. The deal
comes with a five-year hybrid term and a 30-year amortization schedule.
Geoffrey Platt of Arbor’s New York City office originated the
loan.
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| Geoffrey Platt |
“Arbor was able to utilize the Freddie Mac
SBL program to allow a repeat client the opportunity to take equity out of
their recently completed construction project and put it into new developments
in the neighborhood,” Platt said.
“It’s a testament to the flexibility of Arbor’s
loan product suite.”
352 Weirfield Street
is a newly constructed, walk-up style building located in the rapidly
developing Brooklyn neighborhood of Bushwick.
The units are equipped with shaker
style kitchen cabinets, modern appliances and central HVAC systems. Building
amenities include a common laundry room, tenant lounge, backyard patio and roof
deck.
CONTACT:
Bina Handa
Tel: 516.506.4229
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