Oklahoma City, OK Arbor Realty Trust, Inc. funded a portfolio of Freddie Mac and Fannie Mae loans in Georgia, Tennessee and Oklahoma. The three multifamily properties, totaling 280 units, received $11.4 million in combined funding.
Two of the properties, Foxcroft Apartments (188 units), and Franklin Square Apartments (76 units) in Munford, Tenn., received acquisition financing through the Freddie Mac SBL program, while the third property, Highland Gate Apartments (16 units) in Atlanta, Ga., received refinancing through the Fannie Mae DUS Small Loan program. All loans came with a 10-year fixed rate term.
Sam Schwass of Arbor’s New York office originated the loan.
“This transaction was another example of the deep expertise of our firm,” said Schwass. “Even though there were challenges, Arbor’s experienced team was able to provide customized solutions and get this portfolio executed. It’s a testament to the creative work we can do from start to finish. I am proud to have been a part of this deal and the sponsor relationship we established.”