Arbor Properties secured $49.1m in permanent financing for a four-property, 630-unit multifamily portfolio in Tallahassee, Florida. CBRE Capital Markets’ Debt & Structured Finance team received four separate non-recourse loans to refinance the portfolio. The loans originated through CBRE’s Fannie Mae Delegated Underwriting and Servicing (DUS) program. The properties included in the transactions are the 104-unit Arbor Station II, the 132-unit Azalea Place, the 274-unit Arbor View and the 120-unit Eagles Landing. Fannie Mae’s Early Rate-Lock option provided Arbor Properties with a sub-4-percent 10-year fixed-rate loan.
“We shopped these four transactions to both government-sponsored enterprises and Fannie Mae was the clear winner for each of these loans, providing the best rate, highest loan proceeds and offering better leverage. This demonstrates the value in our broad lending platform that our customers are able to capitalize on when unexpected conditions arise,” said Glenn Housman, senior vice president at CBRE.
