Friday, December 14, 2018

Arbor Funds $3 million Freddie Mac SBL Deal in Brooklyn, NY


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.

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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