Arbor Realty Trust Provides $7.55M Loan For 84-Unit Multifamily Acquisition In La Plata

The property asset involved in the transaction is located at 610 Zekiah Run Road in La Plata, MD. This multifamily asset has a total square footage of 264,000 and comprises 84 units. The loan associated with this property is for an acquisition, amounting to $7,549,000 with a fixed interest rate of 5.75% for a duration of 7 years, including 4 years of interest-only payments and no cash fee.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $7,549,000
• Loan Type: Acquisition
• Loan Terms: 5.75% Fixed for 7-Years, 4-Years I/O, No Cash Fee
• Lender: Arbor Realty Trust
• Broker: Brian Anderson & Eddie Miro - Progress Capital

Key individuals involved in this deal include Brian Anderson and Eddie Miro, who are the brokers representing the transaction. They are affiliated with Progress Capital, facilitating the acquisition loan provided by Arbor Realty Trust.