Arbor Funding Covers Country-Wide Projects

Eric Regenbogen 

$24.8 Million Bridge Loan Portfolio Closed in Illinois

 UNIONDALE, NY – Arbor Realty Trust, Inc. (NYSE:ABR), a leading multifamily and commercial mortgage lender, recently funded a $24.8M portfolio in Illinois. The deal encompasses three transactions, all bridge loans for a single sponsor.

 Eric Regenbogen of Arbor’s Uniondale office originated the deal.

2909 East 78 Street, Chicago, IL 

 “Through these loans, we were able to provide the borrower with the capital they required to both purchase and improve the properties,” said Regenbogen. 

“Once again, we are demonstrating how we can meet the needs of our partners, in this case, helping to gentrify a growing market in the greater Chicago area.”

 930 North Boulevard, Oak Park, IL

 922 N. Blvd, Oak Park, IL ($11.1M) – Built in 1969, this 56-unit, eight-story apartment complex outside of Chicago features a roof terrace, sundeck and beautiful views of the city. The property is in close walking distance to a wide range of shops, restaurants, nightlife and transportation.

 930 N. Blvd., Oak Park, IL ($9.3M) – Built in 1966, this 48-unit, seven-story property offers garage parking, on-site laundry facilities and easy access to local shopping and dining venues.

2909 E. 78 Street, Chicago, IL ($4.4M) – Built in 1932, this 31-unit, four-story multifamily development is located on the desirable South Shore. The pet-friendly property features newer aluminum windows and proximity to public transportation.

 Austin Walker

    $10 Million Seniors Housing Portfolio Completed in St. Louis, MO

UNIONDALE, NY – Arbor Realty Trust, Inc. (NYSE:ABR) a leading multifamily and commercial mortgage lender, recently financed an acquisition loan for a Seniors Housing portfolio in St. Louis, MO. The properties received $9.9M in funding with a 24-month term.

 Austin Walker of Arbor’s New York City office originated the loan.

 “This deal enabled our client to secure short-term financing on two affordable senior housing properties in an optimal location,” Walker said. “The financial structure of this loan exemplifies Arbor’s commitment to identifying and executing customized solutions to align with our borrowers’ needs.”

 This 240-units are located near Downtown St. Louis with the iconic Fox Theatre, Missouri Botanical Garden, museums, restaurants and shopping nearby.

Ari Short 

 $17 Million in Agency Loans Posted in Newark and Paterson, NJ

UNIONDALE, NY – Arbor Realty Trust, Inc. (NYSE:ABR), a leading multifamily and commercial mortgage lender, recently funded 13 agency loans totaling $17.2M in Newark and Paterson, New Jersey.

 The Newark Portfolio, comprised of six mixed-use and multifamily properties in Newark, NJ, received $11.3M in acquisition funding through the Freddie Mac SBL product. Terms included a five-year fixed rate followed by a 15-year adjustable term.

Newark, NJ Portfolio

• 
  10 Kent Street – This 18-unit multifamily property received $2M in funding. The three-story complex is in close proximity to New Jersey Institute of Technology.
• 741 Clinton Ave. – This mixed-use property received $1.5M in financing. It includes 20 residential units and some commercial space.
• 6 Longfellow Ave. – This mixed-use property received $1.4M in funding. It features 13 residential units and two commercial spaces.
• 8 Monticello Ave. – This mixed-use property received $2M in financing. It is made up of 20 residential units and six commercial spaces.
• 232 Shephard Ave. – This multifamily property received $2.5M in funding and includes 22 residential units.
• 268 Stuyvesant Ave. – This multifamily property received $1.8M in financing. It features 30 residential units.

The Paterson Portfolio consists of seven multifamily properties in Paterson, NJ, which received $5.9M refinance cash-out funding through the Fannie Mae Small Loans program. Terms include a 10-year term on a 30-year amortization schedule.

Paterson, NJ Portfolio 

 394 River Street – This six-unit walk-up style apartment complex received $617,000 in financing. It is made up of studio, one- and two-bedroom apartments.

• 130 12^th Ave. – This three-story property received $881,000 in funding. It features a one-bedroom apartment and five, two-bedroom residences.
• 50-54 Clinton Street – This 12-unit multifamily property received $1.4M in financing. The walk-up style building includes studio, one- and two-bedroom apartments.
• 470-472 10^th Ave. – This three-story building received $767,000 in funding and is made up of two and three-bedroom apartments.
• 71-73 N. Main Street – This six-unit, walk-up style property received $768,000 in financing. It includes two- and three-bedroom apartments.
• 33-35 Hillman Street – This six-unit walk-up style property received $623,000 in funding. It features six, two-bedroom apartments.
• 102-104 East Main Street – This six-unit multifamily property received $886,000 in financing and includes six, two-bedroom apartments. 

Ari Short of Arbor’s New York City office originated the loans. 

 “New Jersey has been a very active market,” Short said. “Thanks to Arbor’s industry experience, and its longstanding relationships with Fannie Mae and Freddie Mac, we can offer the best possible terms and structure to our clients.”

Greg Gillam 

$13 Million Fannie Mae DUS® Green Rewards Loan Brokered in Las Vegas, NV

UNIONDALE, NY  – Arbor Realty Trust, Inc. (NYSE:ABR) a leading multifamily and commercial mortgage lender, recently funded a Fannie Mae DUS® Green Rewards acquisition loan in Las Vegas, NV. 

The mid-rise, multifamily property received $13.4M in financing with a 10-year fixed-rate and four months of interest only payments.

Greg Gillam of Arbor’s Manhattan Beach office originated the loan.

“Echelon at Centennial Hills isn’t the typical garden style apartment commonly found in this market. While this presented a layer of complexity – in terms of finding suitable comparative properties for appraisal – Arbor’s team delivered,” Gillam said.    

Echelon at Centennial Hills, Las Vegas, NV

Built in 2008, Echelon at Centennial Hills offers one, two, three- and four-bedroom units, with washers and dryers, walk-in closets, vaulted ceilings, granite countertops, and stainless steel appliances.

 The complex has a resort-style pool and spa, cabanas, sun deck, clubhouse and fitness center. It is in close proximity to local parks, restaurants and entertainment.

Garth Davis

$25 Million Fannie Mae DUS® Green Rewards Loan Arranged in
Los Angeles, CA

 UNIONDALE, NY – Arbor Realty Trust, Inc. (NYSE:ABR), a leading multifamily and commercial mortgage lender, recently funded a Fannie Mae DUS® Green Rewards loan in Los Angeles, CA. 

The transaction was structured to provide $25M refinance cash-out for a seven-year term with five years of interest only.  

Garth Davis of Arbor’s San Francisco office originated the deal.

“This transaction was not typical for us as the majority of units were furnished, making it challenging to secure the right solution,” said Davis. 

 888 Hilgard Avenue, Los Angeles, CA

“Our sponsor’s record and experience in this space, combined with Arbor’s expertise and strong relationship with Fannie Mae, allowed us to obtain the Green Rewards qualification and secure the rates and terms that best addressed the client’s needs.”

Built in 1976 and renovated in 2015, 888 Hilgard Avenue is an attractive complex with hardwood floors, vaulted ceilings, fireplaces, granite countertops and stainless steel appliances. 

This pet-friendly property offers a fitness center; gated parking garage; and bicycles for residents’ enjoyment. There’s also easy access to various gardens, museums and parks.

Contact:

 Bina Handa

Tel: 516.506.4229

bhanda@arbor.com