Dealmaker: Arbor Funds $84M in Multifamily Transactions

Arbor Realty Trust, Uniondale, N.Y., funded five loans totaling $72.8 million in Kansas, North Carolina, Florida and Texas under Fannie Mae’s Delegated Underwriting & Servicing loan program.

Ronen Abergel, Vice President in Arbor’s New York office, originated the loans, which included:
–$29.6 million for Oak Park Village, a 510-unit property in Lenexa, Kan. The seven-year acquisition loan amortizes on a 30-year schedule.
–$15 million for Harbor Cay Apartments in Largo, Fla. This 276-unit property received a seven-year acquisition loan that amortizes on a 30-year schedule.
–Montclaire Estates, a 301-unit multifamily property in Charlotte, N.C., received $17.9 million. The 12-year acquisition loan amortizes on a 30-year schedule.
–In Texas, The Gardens of Walnut in Garland received a $5.4 million 10-year acquisition loan and the 98-unit Castle Loma apartments in Mesquite received $4.9 million. The 10-year acquisition loan amortizes on a 30-year schedule.

Abergel also arranged $11.3 under Freddie Mac’s Multifamily Small Balance Loan product line. The subject properties included Swann’s Cove in Lakeland, Fla, which received $4.7 million, Bay Vista & Magnolia Place in Tampa, Fla., which received $4.1 million and Hillsdale Apartments in Topeka, Kan., which received $2.5 million.