Arbor Funds $12 Million in Student Housing Transactions in Connecticut

Eric Regenbogen

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 bridge transactions for two student housing properties in Northeastern Connecticut.

The properties, a 100-unit townhome style complex and a 40-unit apartment structure, received $12M in combined bridge funding. Both acquisitions come with a 24-month term.

The client approached Arbor for a creative structure that would allow for not only the purchase costs, but the rehab costs for the properties as well. Arbor was able to structure a 75% loan-to-cost product for these investments.

Eric Regenbogen of Arbor’s Uniondale office originated the loan. “Our balance sheet execution is an extremely effective way to show clients how Arbor can tailor a specific loan to their needs and expectations,” Regenbogen explained. “Our quickness and efficiency are two of the reasons why clients love our loan products. I was very happy to structure these transactions for my client, and I’m looking forward to many more deals with this group.”

Both properties are situated near the University of Connecticut, which has a student population of over 26,000. Combined between them, the complexes include onsite management, parking, tenant storage space, laundry rooms, and BBQ grills, as well as basketball, tennis, and volleyball courts.

 

For more information, please contact:

Bina Handa

Tel: 516.506.4229

bhanda@arbor.com

Florida Vocational Institute Establishes Second Campus in South Florida

Denyse Antunes

MIRAMAR, FL – Florida Vocational Institute (FVI) has established its second campus in South Florida at the Miramar Park of Commerce, South Florida’s largest locally owned and managed business park. 

Occupying 29,849 sq. ft. of space at 3502-3560 Enterprise Way, FVI is an accredited occupational post-education provider that offers training for students interested in entry-level careers in healthcare and information technology.

Maridee Bell

“Our new campus in Miramar has the capacity to accommodate additional staff and several hundred more students,” said Denyse Antunes of Florida Vocational Institute. 

“As FVI continues to grow, we are excited to expand program offerings that further provide our students with the knowledge and training necessary to thrive in South Florida’s competitive work environment, subsequently offering employers qualified and skilled candidates and benefitting the regional business community as a whole.”

Lauren Pace

The Miramar campus is FVI’s third and largest location in South Florida. In addition to its 15,677 sq.-ft. main campus in Miami, which serves more than 300 students, FVI operates a 750 sq.-ft. satellite facility in Doral, which serves six students enrolled in the Institute’s web development and design programs.

“FVI will undoubtedly benefit from the Park’s accessibility,” said Vice President Maridee Bell of Sunbeam Properties & Development, which leases and manages the Miramar Park of Commerce. 

Ryan Goggins

“The proximity to major highways and public transportation enables FVI to serve students from both Broward and Miami-Dade counties. Additionally, the space’s versatility and tech compatibility offer ideal accommodations for hands-on learning and professional development.”

In the transaction, the Park was represented by Bell and Lauren Pace of Sunbeam Properties & Development as well as Ryan Goggins and Jonathan Kingsley of Colliers International.

Jonathan Kingsley

Since breaking ground in 1984, Sunbeam has developed the Miramar Park of Commerce into the largest locally owned and managed Business Park in South Florida, with over five million square feet of office/service, laboratory, pharmacy, light manufacturing and distribution space. 

The world class Park is home to more than 10,000 employees from more than 180 national and international companies including GE, Siemens, Tommy Hilfiger, Neiman Marcus, Humana, Quest Diagnostics;

Toyota, Rolls Royce Commercial Marine, Stanley Black & Decker, Pepperidge Farm and Nissan. 

Flex/office space, corporate build-to-suits as well as a limited number of second-generation spaces are available in the Park. 

For more information, please contact: 

Lexi Robinson
954-776-1999, ext. 255
lrobinson@piersongrant.com  or 

Lauren Pace (lpace@wsvn.com) or Maridee Bell (mbell@wsvn.com) at 10212 USA Today Way, Miramar, FL 33025 or call 954-450-7900.