Arbor Funds New Loans in Texas and Connecticut

Matt Norman

                                  

Arbor Funds $18.3 Million Fannie Mae ARM 7-6™ Loan in Houston, TX

  

UNIONDALE, NY – Arbor Realty Trust, Inc. (NYSE:ABR), a leading multifamily and commercial mortgage lender, recently funded a Fannie Mae Loan in Houston, TX.

This multifamily property received $18.3M in refinance funding under the Fannie Mae ARM 7-6™program.

Matt Norman of Arbor’s Bloomington, Indiana, office originated the loan.

 “The property provided us with an excellent opportunity to help the owner refinance from an acquisition bank loan to a more permanent Fannie floating rate loan, said Norman. 

 "The flexibility of the ARM payoff gives the owner the option to sell or refinance again in the near future,” “Through this deal, we were able to free trapped equity for future purchases and provide a lower rate, all in a timely manner.”

Built in 1982, this gated community offers a fitness center, spa, pool and concierge. The apartments feature walk-in closets, crown molding, fireplaces and storage units available for rent.

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Arbor Funds $7.5 Million Fannie Mae DUS® Seniors Housing Loan in Hamden, CT

  

Ari Short

UNIONDALE, NY– Arbor Realty Trust, Inc. (NYSE:ABR), a leading multifamily and commercial mortgage lender, recently funded a Fannie Mae DUS® Seniors Housing Loan in Hamden, CT.

 Meadow Mills Assisted Living & Memory Care, a 60-unit assisted living facility, received $7.5M in refinance funding through the program. The loan includes a 10 year, fixed-rate term on a 30-year amortization schedule.

 Ari Short of Arbor’s New York City office originated the loan.

 “We were pleased to offer our client a $7.5M cash-out refinance of this assisted living property in Hamden, CT,” said Short. 

“The borrowers effectively executed their business plan to increase revenue since acquisition, and we were able to structure a loan featuring a return of equity to investors, while securing long term debt at an attractive rate.”

Built on two quiet acres, Meadow Mills Assisted Living & Memory Care provides its residents with all-inclusive services and amenities including a well-trained nursing staff, spacious dining halls serving nutritious meals, and life enrichment programs featuring music therapy, memory games, socialization events and more.

The facility also provides housekeeping and laundry services. The community provides a high caregiver-to-resident ratio and is fully equipped to accommodate guests with Alzheimer’s disease and dementia.

Contact:

Bina Handa

Tel: 516.506.4229

bhanda@arbor.com