Friday, May 3, 2019

Arbor Realty Trust Inc. Roundup of New Funding Deals



Greg Gillam
                                
Arbor Funds $19 Million Fannie Mae® Streamlined Rate Lock Deal in West Covina, CA
  
UNIONDALE, NY– Arbor Realty Trust, Inc. (NYSE:ABR), a leading multifamily and commercial mortgage lender, recently funded a Fannie Mae® Streamlined Rate Lock (SRL) deal in West Covina, CA.

Tuscany Villas, a 166-unit garden style apartment building, received $19M in refinance funding through the program. The loan includes a 10 year, fixed-rate term on a 30-year amortization schedule.

Greg Gillam of Arbor’s Manhattan Beach office originated the loan.

“The borrower has owned this workforce housing property for over 10 years,” Gillam said. “Due to the extensive improvements that were made, Arbor was able to refinance the existing Fannie Mae loan and provide a cash-out option.

"Additionally, the SRL product allowed the borrower to lock the interest rate early in the loan process.”

Tuscany Villas, West Covina, CA

Built in 1966 and recently renovated, this luxurious Tuscan-style community offers studio and one-bedroom apartments with upgraded interiors including hardwood flooring, custom cabinets and stunning granite counter tops.

With breathtaking views of the California Mountains, Tuscany Villas offer resort-style landscaping, two community pools, charcoal grilling and a fitness center.


  
Michael Jehle
  
Arbor Funds $4 Million Freddie Mac SBL Deal in Detroit, MI

UNIONDALE, NY -- Arbor Realty Trust, Inc. (NYSE:ABR) a leading multifamily and commercial mortgage lender, recently funded a Freddie Mac SBL deal in Detroit, MI.

Van Dyke Apartments, a 40-unit multifamily property, received $4M in refinance funding through the program. The loan features a 20-year hybrid term with three years of interest only on a 30-year amortization schedule.

 Michael Jehle of Arbor’s Oklahoma office originated the loan.
 “This is the fifth SBL loan the borrower has done with Arbor over the last four years,” Jehle said. “His formula has been the same on each deal – buy an old and tired property, renovate it completely with modern amenities and refinance.

"This process is proven and highly successful, primarily because of the strong construction and management capabilities of the borrower.”

Van Dyke Apartments, Detroit, MI
 Built in 1928 and renovated in 2018, Van Dyke Apartments combines classic 1920s architecture with modern living and amenities. Units have been renovated to include stainless steel appliances, granite countertops, electric fireplaces and European glass door showers equipped with double heads and a rainfall feature.

The property includes an on-site laundry facility, with the option for in-unit washer/dryer hookups.



Austin Walker
Arbor Closes $6.2 Million in Fannie Mae Small Loans

UNIONDALE, NY – Arbor Realty Trust, Inc. (NYSE:ABR), a leading multifamily and commercial mortgage lender, funded the following Fannie Mae loans totaling $6.2M in Texas, Oklahoma, and Arizona:

A&M Courtyard Apartments, Bryan, TX

A&M Courtyard, Bryan, TX: This 32-unit student housing property received $1.1M in acquisition funding through the Fannie Mae DUS® Small Loan program. The loan provides a 10 year, fixed-rate term on a 30-year amortization schedule. A&M Courtyard provides housing for nearby Texas A&M University students, and features a swimming pool with deck, covered walkways and beautiful landscaping.

Raleigh Square Apartments, Oklahoma City, OK

Raleigh Square Apartments, Oklahoma City, OK: This 105-unit multifamily property received $2.2M in acquisition funding through the Fannie Mae ARM 7-6™ loan program. The loan provides a 7-year term with an adjustable rate on a 30-year amortization schedule. Raleigh Square Apartments are conveniently located near Will Rogers World Airport and offer a wide selection of features and amenities including a community picnic area, pool, playground, on-site parking and laundry facilities.


Timberline Mobile Home Park, Show Low, AZ

 Timberline Mobile Home Park, Show Low, AZ: This 128-unit multifamily property received $2.8M in acquisition funding through the Fannie Mae DUS® loan program. 

The loan provides a 12 year, fixed-rate term with two years of interest only on a 30-year amortization schedule. Timberline Mobile Home Park is a mix of 89 mobile home sites, 38 RV sites and one apartment unit. 

The site includes a storage building, clubhouse with community kitchen, laundry room, banquet hall, library and RV/boat storage area.

 Austin Walker of Arbor’s New York City office originated the loans.

 “These transactions aren’t just numbers on a page, they reflect the strong relationship Arbor and FNMA share,” said Walker. “Each transaction was custom tailored through a variety of waivers to address the borrowers’ unique needs. Arbor is able to deliver financing solutions for every type of property – whether it’s a standard multifamily property, student housing complex, mobile home park or beyond!”

CONTACT:

Bina Handa
Tel: 516.506.4229

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