Arbor Realty Trust funded a $43 million bridge loan in St. Charles, MO.
Arbor provided the cash-out refinance loan with a 30-month floating rate for The Boulders at Katy Trail, a 314-unit property.
Brian Scharf of Arbor’s Uniondale office originated the loan.
“Arbor was able to deliver competitive terms on a structured transaction for a long-time client,” said Scharf. “This is another great example of how we at Arbor always make client satisfaction and long-term relationships our number one priority.”
Built in 2002, The Boulders at Katy Trail offers its residents luxurious community features such as a 24-hour fitness center, movie theatre, indoor and outdoor pool with a clubhouse, putting green and on-site security.
Its apartments are equipped with stainless steel appliances, granite countertops, crown molding, walk-in closets, full-size washers and dryers, and private decks or patios.