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| 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.”
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| 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.
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| 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.”
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| 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.
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| 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:
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| 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.
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| 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.
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| 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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