Arbor Realty Trust Provides $38.6M Acquisition Loan for Multifamily Project in Metro Atlanta
NORCROSS, GA. — Arbor Realty Trust Inc. has provided a $38.6 million Fannie Mae loan for the acquisition of Fields at Peachtree Corners, a 490-unit apartment complex in the northern Atlanta suburb of Norcross. The loan carries a 12-year fixed interest rate with six years of interest-only payments and a 30-year amortization schedule. The asset was built in 1973 and offers a fitness center, Olympic-sized swimming pool, tennis and volleyball courts, soccer field, resident clubhouse, a playground and picnic area with barbecue. The borrower was not disclosed.