Arbor Provides $14.1M Fannie Mae Loan for Acquisition of Multifamily Community in Charlotte
CHARLOTTE, N.C. — Arbor Realty Trust Inc. has provided a $14.1 million loan through Fannie Mae’s Green Rewards program for the acquisition of Crown Point Townhomes in Charlotte. Alexander Kaushansky of Arbor originated the 10-year, fixed-rate loan with three years of interest-only payments on behalf of the borrower, Friedlam Partners LLC. The property was constructed in 1972 and features two-bedroom, garden-style apartment units. Community amenities include exterior storage, a swimming pool, picnic area and private patios. Planned renovations include upgrades to the unit interiors, landscaping, leasing office and pool, as well as the addition of a playground and dog park.