Short of Arbor Realty Trust places $7.5 million refinance loan

Hamden, CT Arbor Realty Trust, Inc. funded a Fannie Mae DUS Seniors Housing loan. Meadow Mills Assisted Living & Memory Care, a 60-unit assisted living facility, received $7.5 million in refinance funding through the program. The loan includes a 10-year, fixed-rate term on a 30-year amortization schedule.

Ari Short of Arbor’s New York City office originated the loan.

“We were pleased to offer our client a $7.5 million cash-out refinance of this assisted living property in Hamden, Conn.,” said Short. “The borrowers effectively executed their business plan to increase revenue since acquisition, and we were able to structure a loan featuring a return of equity to investors, while securing long term debt at an attractive rate.”