Arbor Realty Trust Provides $61.2M Bridge Loan for Office Tower in Birmingham

BIRMINGHAM, ALA. — Arbor Realty Trust Inc. has provided a $61.2 million bridge loan for AT&T City Center, a 30-story office building in Birmingham. Joseph Charneski of Arbor Realty Trust originated the loan for VCP City Center, which bought the building in November 2018 for $31 million. The borrower plans to use the funds to convert the 617,453-square-foot building into a mixed-use building, offering residential, retail and office space. The loan also covered acquisition costs for the borrower.