Arbor Realty Trust Provides $42M Construction Loan For Glendale Multifamily

The Empire Group has secured a $42,000,000 construction loan from Arbor Realty Trust for the development of a multifamily property located at 13215 West Glendale Avenue in Glendale, AZ. The project will consist of 167 units, making it a significant addition to the local housing market.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $42,000,000
• Units: 167
• Lender: Arbor Realty Trust
• Landlord: Empire Group
• Loan Type: Construction

This loan from Arbor Realty Trust will provide the necessary funds for the Empire Group to commence construction on the multifamily property. The project aims to cater to the growing demand for housing in Glendale, AZ. The Empire Group, led by their representative at Arbor Realty Trust, exhibits a strong commitment to the development's success.