Orlando

The private placement is expected to close in mid December 2018 in conjunction with the closing of a previously announced portfolio acquisition in Jacksonville, FL.

The deal calculates out to approximately $520,000 per key for the luxury resort.

The 23 Class A properties are located in the Atlanta, Austin, Charlotte, Dallas, Denver, Houston, Las Vegas, Nashville, Orlando, Phoenix, Raleigh, San Antonio and Tampa markets.

Arbor provided $51.3 million in financing for the Reven SFR Portfolio, an 824-unit portfolio located in Jacksonville, FL; Memphis, TN; Atlanta, GA; Birmingham, AL and Houston, TX under the Freddie Mac Single-Family Rental pilot.

"The dynamic of muted wage growth in the low-to-medium skill jobs and a growing middle-class renter cohort leads us to invest in the space that has the highest demand with little to no new supply,” says M. Patrick Carroll, chief executive officer of Carroll Organization.

Moody's Analytics estimates total damage from the Category 4 storm at between $16 billion and $20 billion.