Arbor Funds Fannie Mae DUS Loan For New Philadelphia, PA MF

“This deal provided a cash-out refinance on a newly constructed multifamily property,” says Arbor's Jared Stein.

1155 S. 15th St., Philadelphia, PA

PHILADELPHIA, PA—Union City, NY-based Arbor Realty Trust funded a Fannie Mae DUS loan for 1155 South 15th Street, Philadelphia, PA. The 39-unit multifamily property received $6.4M in funding through the program. The deal includes a seven-year fixed rate with two years interest only terms.

Jared Stein of Arbor’s New York City office originated the loans.

“This deal provided a cash-out refinance on a newly constructed multifamily property,” Stein says. “We leveraged Arbor’s expertise and experience in the market in order to set up the borrower with permanent financing to further acquire and develop new assets in the Philadelphia area.”

Built in 2018, this new luxury building is conveniently located next to public transportation and shops in Philadelphia’s Point Breeze neighborhood. The property includes a shared backyard and residences featuring central air, washer/dryer machines, and gourmet-style kitchens.

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