$6.1 Million Fannie
Mae Small Loans Financed in Arizona and California
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Greg Gillam
|
UNIONDALE,
NY – Arbor Realty Trust, Inc. (NYSE:ABR) a leading
multifamily and commercial mortgage lender, recently funded three Fannie Mae
Small Loans in AZ and CA. The properties received $6.1M in refinancing through
the program.
Greg
Gillam of Arbor’s Manhattan Beach office originated the loans.
“These
transactions demonstrate our ability to provide clients with optimal funding in
a timely manner,” Gillam said. “At Arbor, we are committed to delivering
on all of our borrowers’ short- and long-term needs.”
Sherman
Grove Apartments in Los Angeles, CA, received $2.5M. The multifamily
property includes studio, one- and two-bedroom floorplans with walk-in closets
and hardwood floors.
Grover
East Apartments in Phoenix, AZ, received $2.2M. The 30-unit complex was
built in 1986 and offers one-, two- and three-bedroom options. Lookout Mountain
Park and Paradise Valley Community College are a short driving distance away.
1800
Megan Circle in Hanford, CA, received $1.4M. The multifamily community was
built in 1962 and features one- and two-bedroom units. Retail shopping is
nearby.
$79.6
Million Freddie Mac Conventional
Portfolio Funded in Virginia
UNIONDALE,
NY – Arbor Realty Trust, Inc. (NYSE:ABR), a leading
multifamily and commercial mortgage lender, recently funded a Freddie Mac
Conventional portfolio in Virginia. The three loans, totaling $79.6M, received
acquisition funding with 10-year terms.
Jason
Scott of Arbor’s Atlanta office originated the loans.
“These
transactions reflect our in-depth knowledge of local multifamily markets,”
Scott said. “As trends point to increased demand for suburban living, we
enjoy working with sophisticated clients who are expanding into lower density
markets that offer growth potential, while providing beautiful and comfortable
spaces, which people are proud to call home.”
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| Jason Scott |
Chesapeake
Bay Apartments in Newport News, VA, received $28.2M. Built in 1987, the
300-unit, three-story complex was renovated in 2019. With landscaped grounds,
the property features furnished one- and two-bedroom units with balconies and
patios, a dog park, fitness center, pool, playground and tennis courts.
Just
a 15-minute drive to Richmond, Hanover Crossing in Mechanicsville, VA,
received $26.7M. Built in 1987 and renovated in 2019, this two-story, 220-unit
property offers spacious apartments with private balconies and patios.
Amenities include a swimming pool, picnic area and tennis, volleyball and
basketball courts.
Located
in Richmond, VA, Wilde Lake received $24.7M. Built in 1989 and renovated in
2019, the complex offers one- to three-bedroom units with lake access for
residents. In addition to a business center, a carwash and catering kitchen,
the community features a clubhouse, fitness center, pool and tennis courts.
$9 Million Fannie Mae DUS® Small Loans Arranged Across Utah
UNIONDALE, NY – Arbor Realty Trust, Inc. (NYSE:ABR) a leading multifamily and commercial mortgage lender, recently
funded four Fannie Mae DUS® Small Loans in Utah. The properties, totaling 120
units, received $9M in refinancing.
Austin Walker of Arbor’s New York City office
originated the loans.
Sandbox Apartments in Salt Lake
City, UT, received $1.6M with a 10-year term in the second quarter of 2020. The
22-unit complex was built in 1960 and is conveniently located with Salt Lake
Central Station, parks and shopping nearby.
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Austin Walker
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Three additional properties
received refinancing in the third quarter of 2020:
Twin Terrace & Scotsman Village
in Logan, UT, received $5M with a 12-year term. The pet-friendly complexes are
comprised of 66 units in total. Utah State University is less than a mile away.
Meadow Park in Tremonton, UT,
received $1.3M with a 10-year term. The multifamily property is made up of 16
residential units, and is adjacent to a park with pavilion, playground,
baseball field and tennis courts.
Logan Canyon in Logan, UT, received
$1.1M with a 10-year term. Built in 1965 and renovated in 2019, the
garden-style, low rise includes 16 units. Retail shopping and dining are
nearby.
$19.7 Million in Multifamily Loans Funded Across Florida
UNIONDALE, NY – Arbor Realty Trust, Inc. (NYSE:ABR) a leading multifamily and commercial mortgage lender, recently
funded six multifamily transactions across Florida. The properties, consisting
of 216 units, received $19.7M in financing.
James Fiesel of Arbor’s New York City office originated the loans.
“Our team offers competitive terms across
a variety of product types,” Fiesel said. “Arbor is committed to providing
all of our clients with customized financial solutions that align with their
short- and long-term needs.”
Hilton Estates in Hialeah, through the Fannie Mae DUS® Standard Loan program, received
$9.7M in acquisition funding with a 10-year term. Built in 1989, the 66-unit
property is pet-friendly. Florida National College and Miami Dade College are
nearby.
Parkview Apartments in Eustis, received $3.1M in refinancing with a 10-year term in the second
quarter of 2020. Built in 1971, the 56-unit pet-friendly property is near
to retail shopping and Trout Lake Nature Center.
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James Fiesel
|
1621 NW 19th Street in
Miami, received $1.6M in refinancing with a
12-year term in the third quarter of 2020. The multifamily complex is made up
of 20 units with new kitchen cabinets and granite countertops.
6791 NW 22nd Ave. in
Miami, received $2.1M in refinancing with a
12-year term in the fourth quarter of 2020. The two-story, garden low-rise
features 36 units with central air conditioning. Local transportation and Miami
Dade College are a short driving distance away.
Spruce Apartments in West Palm Beach, received $1.5M in acquisition financing in the second quarter of
2020. The two-story, gated community consists of 18 units and features a Zen
garden. It is in close proximity to Four Arts Gardens and retail shopping.
1362 SW 2nd Street
in Miami, received $1.7M in refinancing in the
fourth quarter of 2020. The recently renovated 20-unit property includes
one- and two-bedroom offerings with tile flooring. Local transit, retail
shopping and the Vizcaya Museum and Gardens are a short driving distance away.
CONTACT:
Bina Handa
Tel:
516.506.4229
bhanda@arbor.com
Arbor
Realty Trust, Inc.
333
Earle Ovington Blvd, Suite 900
Uniondale,
NY 11553
800.ARBOR.10
arbor.com
