Arbor Funds $92.6 Million in Fannie Mae Loans Across Seven U.S. States

 Ryan Duff

 UNIONDALE, NY – Arbor Realty Trust, Inc. (NYSE:ABR), a leading multifamily and commercial mortgage lender, recently financed Fannie Mae loans in seven states across the U.S. The properties, made up of 1634 units, received $92.6M in funding.   

 Ryan Duff of Arbor’s New York City office originated the loans.

 “Arbor has been able to keep up with the preservation of affordable housing through Fannie Mae’s mission-driven product lines during the pandemic,” Duff said.

“While rates remain competitive, we’re able to offer cost-effective, highly leveraged and competitive structures to our customers for all of their multifamily financing needs.”    

Highlights of Transactions

The following properties received financing through the Fannie Mae DUS® program:

Oaks at Five Mile Apartments in Dallas, TX, received $9.6M in acquisition financing in the first quarter of 2020. Built in 1977 the two-story, 196-unit property features walk-in closets, patios and balconies. Retail shopping and the Dallas Zoo are nearby.

Tuscany Village Apartments in Oklahoma City, OK, received $9M in refinancing in the second quarter of 2020. The community includes 306 units with hardwood floors, vaulted ceilings and built-in bookshelves. A swimming pool, playground and picnic area are available to residents. 

Westbridge Apartments in Little Rock, AR, received $6M in refinancing in the second quarter of 2020. Built in 1979, the 180-unit property is pet-friendly. Retail shopping and the Little Rock Zoo are in close proximity.

11-07 Welling Court in Astoria, NY, received $12.4M in refinancing in the third quarter of 2020. The 28-unit complex features custom Italian-crafted kitchens and access to a landscaped roof deck with panoramic views, an outdoor kitchen and more. Parks and public transportation are nearby.

Wingate Apartments in Forest Park, GA, received $11M in refinancing in the third quarter of 2020. The multifamily property features 211 units and is close to shopping, dining and entertainment. Fort Gillem is a short driving distance away.

Inverness Apartments in Tuscaloosa, AL, received $23.2M in acquisition funding in the fourth quarter of 2020. The 208-unit garden-style apartment complex was built in 1996 and offers one to four bedroom floorplans with fireplaces and balconies.

El Rancho Apartments in Dallas, TX, received $12M in refinancing in the fourth quarter of 2020. Built in 1968, the 308-unit gated complex was renovated in 2015. Retail shopping is within walking distance.

Four additional properties received refinancing through the Fannie Mae DUS® Small Loan program:

Jax Square Townhomes in Sterlington, LA, received $3.2M in the third quarter of 2020. The 30-unit property offers two- and three-bedroom options with walk-in closets, granite kitchen countertops and stainless steel appliances.

Sterling Townhomes in Sterlington, LA, received $2.9M in the third quarter of 2020. Built in 2015, the 28 unit property is made up of two- and three-bedroom floorplans with granite kitchen countertops and stainless steel appliances.

Strawberry Commons in Dalton, GA, received $2.1M in the third quarter of 2020. The 39-unit multifamily garden, low rise features a picnic area and playground. Retail shopping is nearby.

 One Fort Worth, TX, property received funding through the Fannie Mae DUS® Supplemental Loan program:

Regency Oaks received $1.2M in the second quarter of 2020. The 100-unit gated property includes one-, two-, and three-bedroom options and a swimming pool for residents.

 

CONTACT:

Bina Handa

Tel: 516.506.4229

bhanda@arbor.com