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Posted: June 20, 2017
News Outside the Region: Walker of Arbor Realty Trust handles four loans totaling $48.808 million
Hammond, LA Arbor Realty Trust, Inc. has completed the recent funding of four loans totaling $48.808 million:
• Tangi Lakes Townhomes, a 185-unit multifamily property, received $13.471 million funded under the Fannie Mae DUS Loan product line. The 10-year loan amortizes on a 30-year schedule.
• A 32-unit multifamily property in Bridgeport, Conn. received $1,880,000 funded under the Freddie Mac SBL product line. The 20-year acquisition loan has a fixed rate for 10 years and amortizes on a 30-year schedule.
• A commercial property in Westbrook, Conn. received $32.6 million funded under Arbor’s balance sheet bridge loan program. The loan, structured as a three-year interest only floating rate loan with two one-year extension periods, allowed the borrower to acquire the property and provide Tenant Improvement capital to execute a new long term 10-year lease to H&M, which will substantially improve the operating cash flow
• A seven-unit multifamily property in Philadelphia received $856,845 funded under Fannie Mae Small Loan product line. The 10-year acquisition loan amortizes on a 30-year schedule.
Austin Walker in Arbor’s New York City office the loans.
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