Arbor Provides $7.4M Fannie Mae Green Acquisition Loan for Multifamily Property in Tallahassee
TALLAHASSEE, FLA. — Arbor Realty Trust Inc. has provided a $7.4 million Fannie Mae Green Rewards loan for Sabal Court Apartments in Tallahassee. The 12-year acquisition loan features a fixed interest rate and a 30-year amortization schedule. Sam Schwass of Arbor’s New York City office originated the loan. Located at 2125 Jackson Bluff Road, Sabal Court was built in 1967. The two-story multifamily complex features one-, two- and three-bedroom apartments, as well as a picnic area, pool and playground. Florida State University and Tallahassee Community College are each less than two miles away from the property. No details were disclosed about the improvements the undisclosed borrower is planning to satisfy the Green Rewards program.