 |
| Ari Short |
The
acquisition and refinance loans
support multifamily properties in the high-growth metros of Seattle and
Atlanta, but also encompass other locations such as State College, PA, and
Neptune, NJ.
Ari
Short of Arbor’s New York City office originated the loans.
“It’s been
incredible to partner with Fannie Mae during these uncertain times,” Short
said. “Knowing we can offer a reliable product and certainty of execution has
allowed us to give our clients exactly what they need: great terms, quick
process and flexibility.
"I’m proud to be a Fannie Mae partner
and happy to help our borrowers secure their properties for the next 10 plus
years.”
The following properties received funding through Fannie Mae DUS ® program:
Colonial
Square in Atlanta, GA, received $6M in refinancing in the
second quarter of 2020. Built in 1966, the gated community is comprised of two-
and three-bedroom townhomes and features a pool, playground and clubhouse.
Chamberlayne
Avenue portfolio in Richmond, VA, received $32.2M in
acquisition financing in the third quarter of 2020. The 405-unit, multifamily
complex is a short driving distance from downtown.
Andante Apartments in Seattle, WA, received $13.1M in refinancing in the third quarter of 2020. The multifamily property was built in 1965 and renovated in 2017. It includes studio, one- and two- bedroom rentals with outdoor balconies or patios.
Villas
Downtown in Springfield, IL, received $9.3M in
refinancing in the third quarter of 2020. The modern, spacious apartments allow
for both conventional year leases as well as student leases with rentals by the
semester. In addition to community meeting areas, the property provides
concierge service and on-site maintenance.
Lions
Gate Apartments in State College, PA, received $14.6M in acquisition
financing in the third quarter of 2020. The property offers both furnished and
unfurnished studios, and one- and two-bedroom units. It is near to Penn State University.
1350
Mayson Turner Rd. in Atlanta, GA, received $6M in refinancing in the
third quarter of 2020. The newly renovated property is comprised of 84-units.
Local shopping and public transportation are nearby.
The
Cincinnati Portfolio in Cincinnati, OH, received $12.2M in refinancing in
the fourth quarter of 2020. The University of Cincinnati, Cincinnati State
Technical and Community College and the College of Mount St. Joseph are a short
driving distance away.
Across
the country on the East Coast, in Brooklyn, NY, 180 Scholes St. received $16M
in refinancing in the fourth quarter of 2020.
Located
in Williamsburg, the three-floor structure was built in 2009 and has 34 units.
In addition to the neighborhood cafes, art, music and boutiques, the property
offers larger spaces compared to similarly priced apartments in Manhattan and
is close to public transportation.
Orchard
Estates in Mattydale, NY, received $18.2M in refinancing in the
third quarter of 2020. Close to downtown Syracuse, the complex offers two- and
three-bedroom apartments surrounded by natural beauty and amenities that
include a swimming and wading pool, picnic area and nature trails.
Harlee Gardens in Neptune City, NJ, received $6.9M in refinancing in the third quarter of 2020. The 64-unit property is near to public transportation. Retail shopping and Monmouth University are in close proximity.
Stratford
Gardens in Neptune, NJ, received $7M in refinancing in the third quarter of
2020. The 50-unit multifamily home is less than a mile away from Gables
Elementary School, Neptune Middle School and Neptune High School.
Neptune
Gardens in Neptune, NJ, received $9.2M in refinancing in the
third quarter of 2020. The newly renovated property offers 160-units with
hardwood floors and eat-in kitchens. Brookdale Community College is a short
driving distance away.
245
Sumner Street in East Boston, MA, received $10M in
refinancing in the second quarter of 2020. The newly constructed multifamily
building features two- and three-bedroom apartments, with two full bathrooms.
It is within walking distance of entertainment, recreational activities,
shopping and dining.
Contact:
Bina Handa
Tel: 516.506.4229
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