Arbor Realty Trust has closed on more than a dozen Fannie Mae transactions totaling $160.7 million across the U.S.
The acquisition and refinance loans support multifamily properties in the high-growth metros of Seattle and Atlanta, but also encompass locations in New York City and New Jersey.
Ari Short of Arbor’s New York City office originated the loans.
“It’s been incredible to partner with Fannie Mae during these uncertain times,” Short said. “Knowing we can offer a reliable product and certainty of execution has allowed us to give our clients exactly what they need: great terms, quick process and flexibility.”
Among the deals were a series of DUS loans in the tri-state area. Delegated Underwriting and Servicing (DUS) loans are securitized on a single-asset basis and supported by multifamily properties with a minimum of five units.
The 34-unit rental at 180 Scholes Street in Brooklyn (pictured top) was refinanced with a $16 million DUS loan. Built in 2009, the three-story property features a duplex apartment space, 12,500 s/f cellar and a 421a tax abatement in place through 2027.
The property is currently being offered for sale at $20 million by DJ Johnston and his team at B6 Real Estate.
The other loans included:
Orchard Estates in Mattydale, NY, received $18.2 million in refinancing. Close to downtown Syracuse, the complex offers two- and three-bedroom apartments and amenities that include a swimming and wading pool, picnic area and nature trails.
Harlee Gardens in Neptune City, NJ, received $6.9 millio. The 64-unit property is near to public transportation, shopping and Monmouth University.
Stratford Gardens in Neptune, NJ, received $7 million in refinancing; Neptune Gardens in Neptune, NJ, received $9.2 million in refinancing.