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| Montego Apartments, Aurora, CO |
UNIONDALE, NY – Arbor Realty Trust,
Inc. (NYSE:ABR),
a leading multifamily and commercial mortgage lender, recently funded a $4.5M
Freddie Mac Small Balance Loan (SBL) in Aurora, CO. Arbor provided the financing
for Montego Apartments, a 40-unit multifamily property.
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| Eugene Yanovsky |
“This loan is a perfect example of the
type of flexibility Arbor can offer its clients to meet their unique needs, in
this case, through the suite of Freddie Mac products,” said Yanovskiy.
“The 20-year term hybrid loan provides a five-year initial fixed rate, followed by a 15-year adjustable rate mortgage (ARM), with 12 months interest only and stepdown prepayment. This customized solution was perfect for our borrower.”
“The 20-year term hybrid loan provides a five-year initial fixed rate, followed by a 15-year adjustable rate mortgage (ARM), with 12 months interest only and stepdown prepayment. This customized solution was perfect for our borrower.”
Built in 1970 and renovated in 2019,
Montego Apartments is a three-story, garden style walk-up building. The
property is close to the Aurora Mall, the Medical Center of Aurora, as well as
nearby hotels.
CONTACT:
Bina Handa
Tel: 516.506.4229
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