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Posted: November 20, 2018
Outside the Region: Arbor funds $1.6 million Fannie Mae DUS loan for Sandhill Properties
Hutchinson, KS Arbor Realty Trust, Inc. funded a Fannie Mae DUS Small Loan for Sandhill Properties. The 48-unit, garden-style multifamily property, received $1.6 million in acquisition funding through the Fannie Mae Small Loan program. The loan provides a 12-year fixed rate term and a 30-year amortization schedule.
Eugene Yanovskiy of Arbor’s NYC office originated the loan.
“The aggressive Fannie Mae Small Loan program allowed us to get the borrower the best 12-year quote available,” said Yanovskiy. “And with the support of exceptional talent and teamwork at Arbor, including underwriter Munzir Khan, we were able to execute a quick close necessary due to the timing constraint of the acquisition.”
Sandhill Properties amenities afforded to tenants include a swimming pool, basketball court, and carports.
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