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| David Galst |
UNIONDALE, NY – Arbor
Realty Trust, Inc. (NYSE:ABR) a leading multifamily and commercial
mortgage lender, recently funded a Freddie Mac SBL portfolio in Michigan.
The three properties, totaling 154 units, received $6.7M in
combined funding. Each loan comes with a 20-year term including a 10-year fixed
rate.
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| Troy Village Apartments, Troy, MI |
The portfolio includes: Troy
Village Apartments in Troy, MI, which received $1.1M in funding; Pointe
Place Apartments in Taylor, MI, which received $3M in funding; and Truman
Village Apartments in Rockwood, MI, which received $2.5M in funding.
David Galst of Arbor’s
Century City office originated the loan.
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| Pointe Place Apartments, Taylor, MI |
“I’m happy to report
that the borrower sincerely appreciated Arbor’s straight-forward and hands-on
execution in closing this cash-out refinance deal,” said Galst.
“The terms of the
loan facilitated the removal of a vacant lot adjoining one of the properties
which was encumbered by the prior lender.”
Built in 1957, Troy Village
Apartments offer amenities such as on-site parking, laundry facilities and high
speed internet access. The property is in close proximity to I-75 with easy
access to Detroit Metro Airport.
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| Truman Village Apartments, Rockwood, MI |
Pointe Place Apartments, built
in 1971, provide on-site parking options, high-speed internet access and
rentable storage units.
Truman Village Apartments,
also built in 1971, offer a park-like setting with a large pet-friendly
community, playground and personal patios. The property is close to Lake Erie
Metro Park and Lake Erie Smith Creek.
Arbor Realty
Trust, Inc. (NYSE:ABR) is a nationwide real estate investment
trust and direct lender, providing loan origination and servicing for
multifamily, seniors housing, healthcare and other diverse commercial real
estate assets.
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| Detroit Metro Airport |
Rated by Standard
and Poor’s and Fitch Ratings, Arbor is committed to building on its reputation
for service, quality and flexibility and dedicated to providing our clients
excellence over the entire life of a loan.
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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