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| 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
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| 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.”
“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
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