Tuesday, January 15, 2019

Arbor Funds $9.5 Million Fannie Mae DUS® Loan in Ridgeland, MS


Ryan Duff

UNIONDALE, NY (Jan. 15, 2018) – 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 Ridgeland, MS.

Ridgeland Ranch Apartments, a 138-unit multifamily property, received $9.5M in funding through the Fannie Mae DUS Loan program. The loan comes with a 12-year fixed rate term.

Ryan Duff of Arbor’s New York City office originated the loan. 

“Arbor was able to utilize Fannie Mae’s product towards a solution that worked for our customer in a changing rate environment,” said Duff. “The terms allowed the sponsor to lock in a low, fixed rate for 12 years and also funded capital improvements that will help enhance quality of living for the tenants.”

Ridgeland Ranch Apartments, Ridgeland, MS

Built in 1974, Ridgeland Ranch Apartments offer many amenities, including wood burning fireplaces, covered balconies/patios, self-service laundry, a fitness center, playground, swimming pool and beautiful landscaping. 

The complex is conveniently located next to shopping centers, restaurants and recreational areas.


CONTACTS:


Bina Handa
Tel: 516.506.4229

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