April 29, 2019
Arbor Realty Trust recently funded a Fannie Mae Small Loan in Sun Prairie, WI, a suburb of Madison. Stonewood Crossing, a 24-unit multifamily property, received $3.2 million in refinance funding through the program.
The loan includes a 30 year fixed-rate term and amortization schedule with one year of interest only. Geoffrey Platt of Arbor’s New York City office originated the loan.
“With some education and guidance, Arbor was able to help first-time agency clients navigate the loan process with ease,” said Platt. “The sponsors were able to lock in long-term debt, which aligned nicely with their financial strategy. Arbor looks forward to helping these sponsors grow their portfolio.”
Built in 2018, Stonewood Crossing provides in-unit features including air conditioning, stainless steel appliances, quartz countertops, washer/dryer systems, fireplaces and balcony/patio options. Community amenities include covered parking, emergency maintenance and access to a nearby trail.
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