The loan, which carries a six-month term with two, 12-month extensions, was originated by Fred Weber, EVP/managing director, and was underwritten by Arbor's Uniondale office. Additional terms of the transaction were not disclosed. The owner/borrower was not identified, but was described by Weber as "a repeat customer that we have closed several transactions with to date."
Arbor provides debt and equity financing for multifamily apartment complexes, senior and affordable housing, hotels, office, industrial and retail properties. Currently, the firm services more than $2 billion in loans.
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