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| Vincent Chiodo |
UNIONDALE, NY – Arbor Realty Trust, Inc.
(NYSE:ABR), a
leading multifamily and commercial mortgage lender, recently funded five
refinance cash-out loans totaling $68.6M under the Fannie Mae Streamlined
Early Rate Lock product line for conventional multifamily housing. The loans provide
12-year fixed terms with six years of interest only.
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| Dallas-Fort Worth, TX property |
Vincent
Chiodo of Arbor’s New York City office originated the loans.
“The
Streamlined Early Rate Lock product helps our clients flexibly manage their
interest rate risk,” said Chiodo.“It’s also a great example of the wide
range of innovative solutions Arbor provides our borrowers, in this case,
conventional multifamily properties looking to lock in favorable rates
early on in the loan.”
This portfolio consists of
more than 1,100 units. The two-story properties in the Dallas-Fort Worth
region were recently refurbished with many indoor and outdoor amenities,
and easy access to nearby cities, dining, parks, recreation and
entertainment.
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