Dealmaker: Arbor Funds $143M in Multifamily Bridge Loans

Arbor Realty Trust, Uniondale, N.Y., closed bridge transactions totaling $143 million in Georgia, North Carolina and Texas. The loans included refinance, acquisition and new construction executions for multifamily assets.

“With the resilience of the multifamily sector of the commercial real estate market, alternative financing options have emerged, serving more specialized needs, including critical interim financing,” said Arbor Realty Trust Chairman and CEO Ivan Kaufman. “For those needs, quite often, the right product is a bridge loan.”

The firm’s recently closed bridge transactions included:

Grace Park in Morrisville, N.C. – Arbor provided a $25.5 million bridge loan to refinance this mixed-use community that delivered in 2007. The property offers modern apartments located above retail shops. Brian Scharf, Vice President in Arbor’s Uniondale office, originated the loan.

Vintage at College Station in College Station, Texas – Arbor provided $10 million in acquisition financing for this 200-unit newly remodeled property. Arbor Vice President Stephen York originated the loan from the firm’s New York City office.

The Meadows at Bloomingdale in Bloomingdale, Ga. – Arbor provided a $23 million acquisition loan for this 200-unit property comprising two-bedroom, two-bathroom units with hardwood floors. Alexander Kaushansky, Vice President in Arbor’s New York City office, originated the loan.

Kaushansky also arranged $84.5 million for PARC at 505 in Houston and The Eddy at River Landing in Smyrna, Ga. PARC at 505 received $30 million in acquisition financing and The Eddy at River Landing received $54.5 million in acquisition financing.