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.
