 |
| Greg Gillam |
UNIONDALE, NY – Arbor Realty Trust, Inc. (NYSE:ABR), a leading
multifamily and commercial mortgage lender, recently funded a Freddie Mac Small
Balance Loan (SBL) in Fallbrook, CA.
Buena Altura
Apartments, a 10-unit apartment building, received $1.2M
in refinance cash-out funding through the program. The loan includes a 10-year,
fixed-rate term with three years interest only and stepdown prepayment
Greg Gillam of Arbor’s Manhattan Beach office
originated the loan.
“The borrower purchased this property about two years ago
and spent quite a bit of money improving it. Arbor was able to provide
favorable financing through Freddie Mac that included a return of part of the
cash invested in the enhancements.”
 |
| 10-Unit Buena Altura Apartments, Fallbrook, CA |
Built
in 1979 and renovated recently, the units on this property offer laundry
facilities, high speed internet access and close proximity to local shopping
centers.
The complex enjoys the blend of rural
tranquility, natural beauty, rolling hills and suburban lifestyle that
characterizes the Fallbrook community of northern San Diego.
Contact:
Bina
Handa
Tel: 516.506.4229
No comments:
Post a Comment