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| Jonathan Chaim |
Two Arkansas housing properties, totaling 111 units, receive $5.4 million in acquisition funding
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| Jefferson Court Apartments Pine Bluff, AR |
UNIONDALE, NY – Arbor Realty Trust, Inc. (NYSE:ABR), a leading multifamily and commercial mortgage lender, recently funded a Fannie Mae portfolio in Arkansas.
The two housing properties, totaling 111 units, received $5.4M in acquisition funding. The loans have 12-year terms, one year of interest only payments, followed by a 30-year amortization period.
Jonathan Chaim of Arbor’s New York City office originated the loans.
“At Arbor, relationships are the foundation of our business,” Chaim said. “Through our trusted partnership with Fannie Mae, we were able to secure the best customized solution for each of these properties to align with our borrower’s needs.”
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| Country Estates Manor White Hall, AR |
Jefferson Court Apartments, located in Pine Bluff, Arkansas, received $2.9M through the Fannie Mae Small Green Rewards Loan program.
The 63-unit multifamily property was built in 1971 and includes one- and two-bedroom apartments. It features a pavilion building with storage rooms, a central laundry facility, picnic area and underground parking for residents.
Country Estates Manor, located in White Hall, Arkansas, received $2.5M in financing through the Fannie Mae Small Loan program. The 48-unit complex was built in 1999. The property includes a swimming pool and a clubhouse.
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| Matt Norman |
Homewood, AL Multifamily Property Receives
UNIONDALE, NY -- Arbor Realty Trust,
Inc. (NYSE:ABR),
a leading multifamily and commercial mortgage lender, recently financed a
Fannie Mae DUS® loan in Homewood, AL. The multifamily property received $15.2M
in cash-out refinancing with a 12-year fixed rate.
Matt Norman of Arbor’s Bloomington, Indiana,
office originated the loan.
"Arbor provided for the refinance of a terminating
Fannie Mae loan, which afforded the sponsor an opportunity to secure additional
funds for future improvements to the property, while maintaining its place as a
workforce housing leader in the submarket," Norman said.
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| The Crescent at Lakeshore Apartments Homewood, AL, |
The Crescent at Lakeshore Apartments in Homewood, AL,
was built in 1967 and renovated in 2013. The 220-unit garden style property
includes spacious modern living areas, crown moldings and walk-in closets.
It
also features a fitness center, swimming pool and playground. Retail shopping
and the Birmingham Zoo are nearby.
$19M Fannie Mae Streamlined Rate Lock Loan Completed in
Santa Monica, CA
UNIONDALE, NY – Arbor Realty Trust, Inc. (NYSE:ABR), a leading multifamily and commercial mortgage lender, recently funded a $19M Fannie Mae Streamlined Rate Lock (SRL) loan in Santa Monica, CA.
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| Garth Davis |
The refinance cash-out deal for this 34-unit luxury apartment complex features 10 years full term interest only.
Garth Davis of Arbor’s San Francisco office originated the deal.
“This deal was unique in several ways, but mainly that it is a brand new build in Santa Monica, which is quite rare,” said Davis. “We were able to accomplish this transaction swiftly by negotiating with our long-term Fannie Mae partners to replace the borrower’s construction loan with an attractive permanent solution.”
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| Pico Eleven Luxury Residences Santa Monica, CA |
Built in 2019, Pico Eleven Luxury Residences offer amenities such as spacious, brightly lit open floor plans and top-of-the-line appliances.
Outdoor features include large private decks and three ocean view community lounge areas with barbecues, firepits and WiFi access.
The complex is also conveniently located near shopping venues, local parks and beaches, as well as the Santa Monica Pier Aquarium.
Contact:
Bina Handa
Tel: 516.506.4229
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