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Brokerage
Posted: June 18, 2019
Outside the Region: Duff of Arbor Realty Trust originates $10.6 million acquisition loan
Forest Park, GA Arbor Realty Trust, Inc. funded a $10.6 million acquisition loan. Arbor provided the loan for Wingate Apartments, a 211-unit complex. Financing for this acquisition includes a two-year, floating rate senior loan and a $1.1 million preferred equity component.
Ryan Duff of Arbor’s NYC office originated the loan.
“This loan is a good example of how we at Arbor focus on relationship-building and providing our borrowers with the most beneficial loan options,” said Duff. “The preferred equity portion of the loan gives Wingate a lower cost, fixed-rate scenario that provides advantages over common equity investments.”
Built in 1965, Wingate Apartments features newly renovated one-, two- and three-bedroom rental units with amenities including high-speed internet access; washer/dryer hook-ups; and convenient access to shopping, dining and entertainment. Located in a residential section of Forest Park, the two-story apartment complex is also pet-friendly, and offers spacious living interiors.
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