Arbor Funds $6.4 Million Fannie Mae DUS® Loan in Philadelphia, PA

1155 South 15th Street, Philadelphia, PA

UNIONDALE, NY – Arbor Realty Trust, Inc. (NYSE:ABR) a leading multifamily and commercial mortgage lender, recently funded a Fannie Mae DUS® loan in Philadelphia, PA. 1155 South 15^th Street, a 39-unit multifamily property, received $6.4M in funding through the program. The deal includes a seven-year fixed rate with two years interest only terms.

Jared Stein of Arbor’s New York City office originated the loans.

Jared Stein

“This deal provided a cash-out refinance on a newly constructed multifamily property,” Stein said. “We leveraged Arbor’s expertise and experience in the market in order to set up the borrower with permanent financing to further acquire and develop new assets in the Philadelphia area.”

  

Built in 2018, this brand new luxury building is conveniently located next to public transportation and shops in Philadelphia’s Point Breeze neighborhood. The property includes a shared backyard and residences featuring central air, washer/dryer machines, and gourmet-style kitchens.

CONTACT:

Bina Handa

Tel: 516.506.4229

bhanda@arbor.com

Arbor Funds $9.4 Million Fannie Mae DUS® Portfolio in Jonesboro, AR

Jonathan Chaim

UNIONDALE, NY – Arbor Realty Trust, Inc. (NYSE:ABR) a leading multifamily and commercial mortgage lender, recently funded a Fannie Mae DUS® portfolio in Jonesboro, AR. Fox Run Apartments, a 66-unit multifamily property, received $5.2M in funding through the program while Hidden Pointe Apartments, a 36-unit multifamily property, received $4.2M. The terms included a 12-year fixed rate, with an interest only period, on a 30-year amortization schedule.

Fox Run Apartments, Jonesboro, AR

Jonathan Chaim of Arbor’s New York City office originated the loan.

Built in 2011, Fox Run Apartments offer a private and convenient lifestyle in a gated community setting.

The pet-friendly community provides covered parking and in-unit washers/dryers. The property is also close to area retail stores.

Hidden Pointe Apartments, built in 2012, is a gated community with on-site property management and maintenance. The residences are equipped with granite countertops, full-size washers/dryers and walk-in closets. The property is located in the center of town, next to a mall and a variety of retail shops and restaurants.

Hidden Point Apartments, Jonesboro, AR

About Us

Arbor Realty Trust, Inc. (NYSE:ABR) is a nationwide real estate investment trust and direct lender, providing loan origination and servicing for multifamily, seniors housing, healthcare and other diverse commercial real estate assets. 

Headquartered in Uniondale, New York, Arbor manages a multibillion-dollar servicing portfolio, specializing in government-sponsored enterprise products. 

Arbor is a Fannie Mae DUS® lender and Freddie Mac Optigo Seller/Servicer. Arbor’s product platform also includes CMBS, bridge, mezzanine and preferred equity loans.

Rated by Standard and Poor’s and Fitch Ratings, Arbor is committed to building on its reputation for service, quality and customized solutions with an unparalleled dedication to providing our clients excellence over the entire life of a loan.

 CONTACT:

Bina Handa

Tel: 516.506.4229

bhanda@arbor.com

Arbor Funds $1.5 Million Freddie Mac SBL Deal in Newark, NJ

                                     

21--25 Willoughby Street, Neward, NJ

UNIONDALE, NY– Arbor Realty Trust, Inc. (NYSE:ABR) a leading multifamily and commercial mortgage lender, recently funded a Freddie Mac SBL deal in Newark, New Jersey.

21-25 Willoughby Street, an 18-unit multifamily property, received $1.5M in funding through the program with a 10-year fixed rate and three years interest only on a 30-year amortization schedule.

Geoffrey Platt

Geoffrey Platt of Arbor’s New York City office originated the loan.

“Arbor was able to help the sponsors take equity out of their newly gut-rehabbed property utilizing Freddie Mac’s competitive SBL program terms and rates,” Platt said. “The sponsors plan to expand their portfolio in this up-and-coming area of Newark, in which Arbor can play a big role.”

Originally constructed in 1920 and renovated in 2018, 21-25 Willoughby Street offers beautiful one-bedroom apartments.

 The property is in a Freddie Mac top market and close to shopping, major highways and public transportation.

 CONTACT:

Bina Handa

Tel: 516.506.4229

bhanda@arbor.com

Planet Granite Chicago property for sale for $21.9 million

Planet Granite climbing gym to be located at 1450 North Dayton Street, Chicago, IL

NEW YORK, NY – B+E, the first brokerage firm with an end-to-end trading platform for net lease (NNN) real estate, has listed the Planet Granite climbing gym to be located at 1450 N. Dayton Street, Chicago, IL, for sale for $21,900,000.

The building is +/- 41,500 SF on +/- .56 acres of land and includes parking.  Construction is expected to be completed August 2020 and has a 15 year NNN lease currently on the market for a 5.5% cap rate, which requires no landlord responsibility and provides the buyer with long term investment stability.

“Lincoln Park is one of the most desirable Chicago neighborhoods,” said Tim Hain of B+E. “In addition to significant existing buildings, several multi-family, retail, mixed use, and office developments are either under construction/planned or have recently been completed in the area surrounding the property. 

Tim Hain

"A large nearby future development, Lincoln Yards, will bring a significant population increase over the next five to ten years.”

Since its opening in 1994, Planet Granite has grown into one of the largest and best-known climbing-focused gyms in the country. 

Locations feature traditional fitness equipment and yoga classes in addition to their world class climbing experience. Planet Granite has 11 fitness centers across the country with over 2.5 million customers.

 Contacts:

John Vita

John Steven Vita Communications

John.vita@jsvcom.com

847/853-8283

Tim Hain

312/366-3584

thain@benetlease.com

NAI Realvest Leases All Space Within 18 months at New 96,000+ SF Beulah Commerce Center in Winter Garden, FL

Beulah Commerce Center, Winter Garden, FL

WINTER GARDEN, FL– NAI Realvest completed four lease agreements during Q1 with new tenants for retail / flex / industrial space totaling 20,800 square feet in Beulah Commerce Center boosting occupancy to 100 percent at the Winter Garden facility that opened last August.

Dianne Grant

The NAI Realvest team of Michael Heidrich, Kevin O’Connor and Matt Cichocki, principals, negotiated the transactions representing Landlord Beulah Commerce Center , LLC.  

Lee Zerivitz

The new industrial center on a 12.4-acre site at the northeast corner of Beulah and Stagg Roads will be home of a new distribution location of Sherwin-Williams Company. 

The Cleveland-based paint company leased 10,800 square feet and was represented by Dianne Grant of Keller Williams.

Risse Brothers School Uniforms based in New Jersey leased 4,000 square feet. They have multiple locations in Florida , Indiana , New Jersey and Texas and expect to open at the new location in August. Lee Zerivitz of City Commercial represented the tenant.

Dorym Marble and Granite also leased 4,000 square feet at Beulah Commerce Center .  The Clermont firm was represented by Victor Berriel of Engel & Vokers Florida Residential. 

Victor Berriel

Reed C&M LLC, a local construction firm represented by Michael Etchison of Millenia Partners, leased 2,000 square feet and tenant improvements underway are estimated to be completed in time for opening in June.

Shortly after breaking ground, the NAI Realvest team had leased more than half of Beulah Commerce Center to Greensboro, N.C.-based Prevost Car (US) Inc., for a celebrity bus service center. 

Michael Heidrich

Kevin O'Connor

CONTACTS:

Michael Heidrich, Principal, NAI Realvest, 

Matthew Cichocki

407-875-9989 mheidrich@realvest.com

Matt Cichocki or Kevin O’Connor Principals NAI Realvest, 

407-875-9989 
mcichocki@realvest.com

 Koconnor@realvest.com

Patrick Mahoney, President / CEO, NAI Realvest, 

407-875-9989 PMahoney@realvest.com  

Beth Payan, Larry Vershel Communications, 

407-644-4142  Lvershelco@aol.com

Pollack Shores Launches Opportunity Zone Initiative in Atlanta, GA

Steven Shores

ATLANTA, GA – Multifamily developer and investment firm Pollack Shores Real Estate Group announced an initiative focused on developing and operating multifamily communities in Opportunity Zones. 

The firm is one of the first in the industry to actualize Opportunity Zone investments, with two multifamily developments underway in Atlanta and Charleston, and several other deals in the works in markets across the Sun Belt.

“Through this new initiative, we are connecting capital with communities in need of investment by structuring quality deals that add value for both our investors and the surrounding neighborhoods,” said Steven Shores, President and CEO of Pollack Shores. 

Jessica Ramsey

“As a long-term property owner, business operator and good neighbor in these districts, we will be a proactive partner committed to supporting local businesses and residents, while also adding energy and economic vitality through our projects.”

Located at 1099 Blvd. SE in Atlanta’s Chosewood Park neighborhood, Skylark rises as one of Pollack Shores’ first Opportunity Zone properties. The 319-unit Class A apartment community overlooks the future Southeast BeltLine trail and offers a variety of price points and living options. 

Units range from 500-square-foot micro apartments to large two-story, three-bedroom apartments with more than 1,500 square feet of living space. Skylark will deliver this fall.

Located at 1099 Boulevard SE in Atlanta’s Chosewood Park neighborhood, Skylark rises as one of Pollack Shores’ first Opportunity Zone properties. 

Pollack Shores has also started construction on The Merchant, a 231-unit apartment community in Charleston’s North Morrison (NoMo) neighborhood. Located at 102 Sottile St., the community sits on a former steel yard and will deliver this fall. 

“Many in our industry have been in ‘wait and see’ mode, and the investment community is eager to see quality Opportunity Zone deal flow,” said Jessica Ramsey, Vice President of Capital Markets at Pollack Shores. 

“We are excited to be one of the first developers to actualize projects that drive returns and make a positive social impact on these districts. Each deal will be highly customized based on the needs and fundamentals of the market.”

Opportunity Zones were added to the federal tax code by the Tax Cuts and Jobs Act and are designed to strengthen distressed neighborhoods across the U.S. through economic development. They incentivize job creation and long-term investment in those communities by offering tax deferments and relief.

 CONTACT:

Nick Banaszak

The Wilbert Group

256-457-5384 

nbanaszak@thewilbertgroup.com

 pollackshores.com/. 

 matrixresidential.com/.

RKW RESIDENTIAL’s Holly Casper Installed as Greater Charlotte Apartment Association President

Holly Casper

Charlotte, NC — RKW RESIDENTIAL, a leading multifamily property management company, is proud to announce that Senior Vice President Holly Casper is the new president of the Greater Charlotte Apartment Association (GCAA). Casper’s appointment is the culmination of her many years of service with the prominent trade organization.

Founded in 1977, the GCAA represents the region’s multifamily industry. Its membership includes 242 companies managing more than 146,800 apartments and 300 businesses servicing the industry.

Before her installation as president, Casper spent five years on the GCAA Board of Directors and two years on the association’s Bus Tour Committee.

“It is an honor to take on this role and help carry out the GCAA mission to advocate for our membership and support housing quality, value and choice throughout Greater Charlotte,” Casper said. “We have many exciting initiatives and programming planned for the year ahead. I am grateful to our team at RKW for its continuous support of GCAA.”

As Senior Vice President for RKW, Casper is responsible for overall property operations, execution of corporate strategy and business development. She holds both Certified Apartment Manager (CAM) and Certified Apartment Portfolio Supervisor (CAPS) designations. Overall, Casper has nearly 15 years of multifamily experience.

RKW is an executive sponsor of GCAA. Many of the company’s executives, managers and communities in the Carolinas are active members of the association.

In 2018, the Charlotte Business Journal recognized RKW in its annual list of the largest property management companies in the area for the first time in the company’s four-year history.

 CONTACT:

Eric Kalis

Vice President, BoardroomPR

ekalis@boardroompr.com

O 954-370-8999

C 305-794-5123

Bank of America Plaza | 1776 N Pine Island Road

Suite 320 | Fort Lauderdale, FL 33322

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www.rkwresidential.com.