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| 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.
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| 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
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