Tuesday, December 25, 2018

Arbor Funds $43.2 Million Fannie Mae DUS® Loan in Orem, UT

 
Wolverine Crossing Student Housing, Orem, UT


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 DUS® loan in Orem, UT.

Wolverine Crossing, a 258-unit dedicated student housing property, received $43.2M in funding through the Fannie Mae DUS loan program. The deal comes with a 12-year term and a seven-year interest only period.

Garth Davis of Arbor’s San Francisco office originated the loan.

Garth Davis
“With this deal, we were able to provide a streamlined, early rate lock within two weeks of engaging with the client, eliminating interest rate risk exposure” Davis said.

“The support from Fannie Mae was a huge value-add as it ensured the client’s terms were met. The client is now exploring three additional transactions based off the success of this deal, which is a testament to Arbor’s commitment to personalized customer service and long-term relationships.”

Located right across from Utah Valley University, Wolverine Crossing offers luxurious student housing to its residents with options for one- to four-bedroom units. Amenities include two resort-style swimming pools, two hot tubs, a professional grade fitness center, athletic courts and more.


CONTACT:

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

Bina Handa
Tel: 516.506.4229

No comments:

Post a Comment