Arbor refinanced the mortgage under its Edge product line. The 10-year loan amortizes over 30 years and carries a note rate of 7.1%. Bob Flint, an Arbor senior loan officer, originated the loan.
''Arbor was able to work through the military occupancy issues at the property and in the community in order to get this deal closed,'' Flint says.
Arbor, based in Uniondale, NY, provides debt and equity financing for apartment complexes, senior and affordable housing, hotels, offices, industrial and retail properties. It has full-service lending offices covering all regions of the US.
The company offers FHA, Fannie Mae and structured financing programs, such as bridge and mezzanine financing. Currently, Arbor services more than $1.5 billion in loans.
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