Southern Portfolio Secures $11M Financing
- Jan 08, 2019
Three multifamily properties in Okla., Tenn., and Ga., have received $11.4 million in combined funding originated by Arbor Realty Trust. Two properties received acquisition financing through the Freddie Mac Small Balance Loan (SBL) program, while the third property received financing through the Fannie Mae Delegated Underwriting and Servicing (DUS) Small Loan program. All loans came with a 10-year fixed rate term.
Foxcroft Apartments, a 188-unit community located at 6810 NW 16th St. in Oklahoma City, Okla., was built in 1971 and features amenities including a swimming pool, playground and assigned parking spaces.
Franklin Square Apartments, a 76-unit community located at 61 Fraklin Square Drive in Munford, Tenn., offers a mix of two- and three-bedroom units and features amenities like a fitness center, playground and swimming pool. Both properties received financing through the Freddie Mac SBL program.
Highland Gate Apartments in Atlanta is a boutique, 16-unit community that consists of two, two-story buildings with one-bedroom units. The property received refinancing through the Fannie Mae DUS Small Loan program.
In December, Arbor Realty Trust arranged the financing for Friedlam Partners and EBEX Holdings’ acquisition of a five-property multifamily portfolio in South Carolina that totaled more than 775 units.
Image courtesy of Yardi Matrix