Arbor Realty Trust Provides $20.8M Bridge Loan for Apartment Property in Clute, Texas

CLUTE, TEXAS — Arbor Realty Trust Inc., a New York-based direct lender, has provided a $20.8 million bridge loan for a 520-unit multifamily property in Clute, about 60 miles south of Houston. The property offers one- and two-bedroom units and amenities such as a fitness center, on-site laundry facilities and three swimming pools. Joseph Charneski of Arbor Realty Trust originated the loan, which features a two-year adjustable term.