Saturday, April 20, 2019

Arbor Funds $4.6 Million Fannie Mae DUS® Loan in Bettendorf, IA


                                     
Michael Noll
  
UNIONDALE, NY – Arbor Realty Trust, Inc. (NYSE:ABR), a leading multifamily and commercial mortgage lender, recently funded a Fannie Mae DUS® deal in Bettendorf, IA.

 The Townhomes at Highland Pointe, a 24-unit multifamily property, received $4.6M in refinance funding through the program. The loan includes a 30-year fixed-rate term with an 80% LTV ratio.

Michael Noll of Arbor’s New York City office originated the loan.

“This was a beautiful property in a great part of town,” said Noll. “We were able to take out the existing construction debt with a long term nonrecourse loan while removing all refinance risk at a very attractive interest rate.”


Townhomes at Highland Pointe, Bettendorf, IA

Built in 2018, The Townhomes at Highland Pointe offer spacious, three-bedroom units equipped with two oversized attached garages, covered decks, granite counter tops, and stainless steel appliances with luxury finishes.

Additionally, each townhome features its own in-unit washer and dryer. The Townhomes at Highland Pointe are conveniently located near several major highways, providing easy access to shopping areas or a routine commute to work and are just steps away from the Highland Bike Path.

Contact: 

Bina Handa
Tel: 516.506.4229

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