Tuesday, May 19, 2020

Arbor Funds $4.1 Million Fannie Mae DUS® Loan in Indianapolis, IN


Michael Jehle

UNIONDALE, NY (May 19, 2020) – Arbor Realty Trust, Inc. (NYSE:ABR) a leading multifamily and commercial mortgage lender, recently funded a Fannie Mae DUS® Loan in Indianapolis, IN.

 Three Fountains West Cooperative, a multifamily affordable housing property, received $4.1M in refinance funding through the program.

 Michael Jehle of Arbor’s Oklahoma office originated the loan.

 “This transaction involved the refinancing of an existing loan on our books that was maturing,” Jehle said. 

Three Fountains West Cooperative, Indianapolis, IN
“The members of this cooperative wanted to pay off their loan as quickly as possible and we were delighted to help them achieve this goal by offering a self-amortizing, straight 15-year fixed rate loan at an interest rate significantly lower than their current mortgage rate.”

 Built in 1972, Three Fountains West Cooperative is comprised of one-, two- and three-bedroom units. The newly renovated complex includes a large community building and playgrounds, and is conveniently located near public transportation and retail shopping.

 Jared Stein

Arbor Funds $15.4 Milion Fannie Mae Loans in Texas

UNIONDALE, NY – Arbor Realty Trust, Inc. (NYSE:ABR), a leading multifamily and commercial mortgage lender, recently funded $15.4M in Fannie Mae loans in Texas.

 Kenwood Heights Apartments in Corsicana, TX, received $8.2M in acquisition financing, with a 12-year fixed rate, one year of interest only payments and 30-year amortization through the Fannie Mae DUS® program.
Built in 1984, the pet-friendly property is made up of 211 residential units. Retail shopping and Navarro College are located nearby. 


 Kenwood Heights Apartments
Corsicana, TX
 Bella Brisa Apartments in Laredo, TX, received $3.2M in refinance funding, with a 10-year fixed-rate, two years of interest only payments and 30-year amortization through the Fannie Mae DUS® Small Loans program. 

The multifamily property was built in 2012 and includes 42 units.

 Monaco Boulevard Apartments in Laredo, TX, received $4M in refinance funding, with a 10-year fixed-rate, two years of interest only payments and 30-year amortization through the Fannie Mae DUS® Small Loans program. Built in 2013, the multifamily property features 44 units.  

 Jared Stein of Arbor’s New York City office originated the loans.
 “Partnerships are the lifeline of our business,” Stein said. “Together, Arbor and Fannie Mae remain committed to providing liquidity to the workforce housing sector during these unprecedented times.”

Contact:

 Bina Handa
Tel: 516.506.4229
Arbor Realty Trust, Inc.
333 Earle Ovington Blvd, Suite 900
Uniondale, NY 11553
800.ARBOR.10

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