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| Matt Norman |
UNIONDALE, NY – Arbor Realty Trust,
Inc. (NYSE:ABR),
a leading multifamily and commercial mortgage lender, recently funded a Fannie
Mae Small Loan in Bloomington, IN.
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| Beacon Hill Townhomes, Bloomington, IN |
The deal received
$1.7M in financing through the program, with a 10-year fixed rate, one-year of
interest only payments, and a 30-year amortization
schedule.
Matt Norman of Arbor’s
Bloomington, Indiana, office originated the loan.
“When financing opportunities, and thus the acquisition window,
looked slim due to parceling issues, Arbor stepped in and coordinated with
Fannie Mae to structure a permanent loan, at an attractive rate that met the
buyer’s return estimates,” Norman said.
“The transaction
also represented the first partnership between Arbor’s Central Indiana office
and Alec Neesham of Marcus and Millichap Capital Corporation’s Indianapolis
office.”
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| Chestnut Hill Apartments, Bloomington, IN |
The Beacon Hill Townhomes and Chestnut Hill Apartments were
built in 1993. The 15-unit complexes are conveniently located near downtown
Bloomington and within close proximity of shopping, recreation and Indiana
University at Bloomington.
Contact:
Bina Handa
Tel: 516.506.4229
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