Real Estate Weekly
Image default
Debt & Equity

Arbor streamlines process

Arbor Realty Trust funded a Fannie Mae Streamlined Rate Lock (SRL) loan in Dallas, TX.

Alexan Riveredge, a 309-unit multifamily property, received $29.5 million in acquisition funding through the program. The loan features a 10-year, interest only, fixed-rate term.

Greg Gillam of Arbor’s Manhattan Beach office originated the loan.

“The time to close this purchase was extremely short as the borrower was selected from a competitive pool of potential buyers based on his projection of a smooth and expeditious closing process,” Gillam said.

“We were able to utilize the Fannie Mae Streamlined Rate Lock, which allowed the borrower to lock at a favorable rate and close quickly for this purchase.”

Built in 2016, Alexan Riveredge is a luxury building that features a parking garage, swimming pool, rooftop lounge, fitness center, jogging trail, dog park, clubhouse, business center and game room.

Related posts

NJ multifamily draws lenders’ interest


Natixis refinances 10 Jay as new tenants sign up


JBA arranges $38M deal for new Greenpoint rental