 |
| Jared Stein |
UNIONDALE, NY – Arbor
Realty Trust, Inc. (NYSE:ABR), a leading
multifamily and commercial mortgage lender, recently funded a Fannie Mae Small
Loan in Chicago, IL.
The
property received $1.5M in financing through the program, with a 15-year fixed
rate and 30-year amortization
schedule.
Jared Stein of Arbor’s New York City office
originated the loan.
 |
| The Muskegon and Colfax Apartments |
“Through the Fannie Mae Small Loans
program, our client was able to secure a long-term fixed rate loan to fund
capital improvements that will enhance the quality of living for tenants,” Stein
said.
“This deal emphasizes Arbor’s commitment to finding innovative,
customized solutions to support the goals of our financial partners.”
The Muskegon and Colfax Apartments consist
of three buildings totaling 44-units. Each features one- and two-bedroom
apartments.
They are in close proximity to the subway system, South Shore
Cultural Center, retail shops and recreation.
Contact:
Bina Handa
Tel:
516.506.4229
bhanda@arbor.com
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