 |
| Robert Mendeles |
UNIONDALE, NY– Arbor Realty Trust, Inc. (NYSE:ABR), a leading
multifamily and commercial mortgage lender, recently funded a Fannie Mae
Small Loans portfolio in Connecticut totaling $3.9M. The portfolio consists of
two multifamily properties in East Haven and New Haven, CT:
Catherine Commons
Built in 2004, this 29-unit, two-story apartment complex features
easy walks to local shopping and quick drives to local parks and recreation in
East Haven, CT.
 |
| Catherine Commons, East Haven, CT |
All
apartments are air conditioned and the property’s prime Main Street setting in
the Outer East Haven area makes Catherine Commons a popular place to live. This
property received $2.2M in acquisition funding.
Austin Apartments
This 24-unit apartment building in New Haven, CT, was
built in 1960, renovated in 2001, and is comprised of 12 studio and 12
one-bedroom units.
The
complex features individually metered electric heat and hot water, ample
off-street parking and on-site laundry facilities. The property is within
walking distance of Westville Village with its small historic town culture and
events.
 |
| Austin Apartments, New Haven, CT |
Austin
Apartments received $1.7M in refinance cash-out funding through the Streamlined
Rate Lock (SRL) product.
Robert Mendeles of Arbor’s Englewood Cliffs office
originated the loans.
“Both of these loans demonstrate Arbor’s expertise in the
Fannie Mae suite of products and also our leadership in identifying
opportunities for clients in the thriving Connecticut market,” said Mendeles.
“The SRL loan gives our clients the flexibility
to control the timing of their loan terms and the ability to manage interest
rate risk by locking the rate on a loan shortly after application. It’s another
example of how we can offer customized solutions to our borrowers.”
CONTACT:
Bina Handa
Tel:
516.506.4229
No comments:
Post a Comment