UNIONDALE, N.Y., Oct. 24, 2018 /PRNewswire/ -- Arbor
Realty Trust, Inc. (NYSE: ABR), a real estate investment trust and
national direct lender specializing in loan origination and
servicing for multifamily, seniors housing, healthcare, and other
diverse commercial real estate assets, recently closed three
single-family rental portfolio deals totaling $66.4M, spanning nine states under the Freddie
Mac Single-Family Rental pilot.
"Arbor is firmly committed to
the single-family rental market as it provides much-needed
affordable housing to our nation's workforce," said Ivan Kaufman, Chairman, President & CEO of
Arbor Realty Trust, Inc. "With more than half of the rental housing
in the United States being
comprised of single-family rentals, this is quickly becoming a
recognized source of affordable housing for families throughout the
country."
"These transactions continue Freddie Mac's Affordable
Single-Family Rental pilot, providing low-income families in nine
states with safe, decent and affordable housing," said David Leopold vice president, Targeted
Affordable Sales & Investments at Freddie Mac Multifamily. "We
were pleased to work with Arbor on
this important transaction even as we prepare to sunset our pilot.
Arbor's national reach allowed us
to provide more than 1,300 low-income families with quality rental
housing in locations ranging from the Southeast to the Midwest and
all the way up to New England."
The transactions included:
- Reven SFR Portfolio, an 824-unit portfolio located in
Jacksonville, FL; Memphis, TN; Atlanta, GA; Birmingham, AL; and Houston, TX, received a $51.3M refinancing under the Freddie Mac
Single-Family Rental pilot. The transaction provides a 7-year fixed
rate with a 30-year amortization schedule. 97% or 799 residential
units are affordable for low-income families earning at or below
80% of the Area Median Income (AMI) and 100% are affordable to
families earning 100 percent of AMI. Jason
Scott of Arbor's
Atlanta office originated the
loan.
- PK Portfolio, a 415-unit, single-family rental portfolio
located in Indiana, Michigan and Ohio, received $6.7M in financing under the Freddie Mac
Single-Family Rental pilot. The transaction provides a 5-year fixed
rate with a 30-year amortization schedule. 100% or 415 units are
affordable for low-income families earning at or below 80% of AMI
and 100% are affordable to families earning 100 percent of AMI.
Ari Short of Arbor's New York
City office originated the loan.
- Netz ADD SFR Portfolio, a 115-unit portfolio located in
New Haven, CT, received an
$8.4M refinancing under the Freddie
Mac Single-Family Rental pilot. The transaction provides a 10-year
fixed rate with a 30-year amortization schedule. 97% or 112
residential units are affordable for low-income families earning at
or below 80% of AMI and 100% are affordable to families earning 100
percent of AMI. Robert Mendeles of
Arbor's Englewood Cliffs, NJ, office, originated the
loan.
Arbor and its predecessor
companies have more than 30 years of experience in both multifamily
and residential financing.
About Us
Arbor Realty Trust, Inc. (NYSE: ABR) is a nationwide real
estate investment trust and direct lender, providing loan
origination and servicing for multifamily, seniors housing,
healthcare and other diverse commercial real estate assets.
Headquartered in Uniondale, New
York, Arbor manages a
multibillion-dollar servicing portfolio, specializing
in Fannie Mae, Freddie Mac and other
government-sponsored enterprises, as well
as CMBS, bridge, mezzanine and preferred
equity lending. Rated by Standard and Poor's and Fitch
Ratings, Arbor is committed to
building on its reputation for service, quality and flexibility and
dedicated to providing our clients excellence over the entire life
of a loan.
Contact: Bina Handa
Tel: 516.506.4229
bhanda@arbor.com
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SOURCE Arbor Realty Trust, Inc.