Arbor Funds $6.4 Million Fannie Mae DUS® Loan in Philadelphia, PA

1155 South 15th Street, Philadelphia, PA

UNIONDALE, NY – Arbor Realty Trust, Inc. (NYSE:ABR) a leading multifamily and commercial mortgage lender, recently funded a Fannie Mae DUS® loan in Philadelphia, PA. 1155 South 15^th Street, a 39-unit multifamily property, received $6.4M in funding through the program. The deal includes a seven-year fixed rate with two years interest only terms.

Jared Stein of Arbor’s New York City office originated the loans.

Jared Stein

“This deal provided a cash-out refinance on a newly constructed multifamily property,” Stein said. “We leveraged Arbor’s expertise and experience in the market in order to set up the borrower with permanent financing to further acquire and develop new assets in the Philadelphia area.”

  

Built in 2018, this brand new luxury building is conveniently located next to public transportation and shops in Philadelphia’s Point Breeze neighborhood. The property includes a shared backyard and residences featuring central air, washer/dryer machines, and gourmet-style kitchens.

CONTACT:

Bina Handa

Tel: 516.506.4229

bhanda@arbor.com