Arbor Secures $35.9M Refinancing for Multifamily Asset in Houston

by Taylor Williams

HOUSTON — Arbor Realty Trust Inc., a publicly traded REIT and direct lender, has secured a $35.9 million loan for the refinancing of Nottingham Village, a 317-unit apartment community in Houston. The garden-style property was built in two phases in 1971 and 1983 and offers a saltwater pool and on-site maintenance. Ronen Abergel of Arbor Realty Trust secured the loan, which features a fixed interest rate and a 35-year term, through the FHA 223(d) program. About $500,000 of the loan proceeds will go toward renovating the property’s interiors and electrical systems. The borrower was not disclosed.

 

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