OAK FOREST, IL—Arbor Realty Trust funded a $5.3 million bridge loan for reVerb Oak Forest, a 72-unit multifamily property, in Oak Forest, IL. Ryan Duff of Arbor's New York City office originated the loan.
“Arbor was able to step in mid process, due to an outside lender retrade, and close quickly with no lockout on the prepayment,” Duff says. “We were committed to finding a solution for the borrower, a repeat customer, who intends to settle into management, take over operations and immediately begin the refinance process into a long-term fixed-rate product.”
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