Arbor Realty Trust, Inc. recently funded a bridge loan of more than $10.6 million for a 266-until multifamily property in Roseville, Michigan.
The acquisition funding came under Arbor’s bridge loan program. The deal provides a three-year adjustable term.
Ari Short of Arbor’s New York City office originated the loan.
Located northeast of downtown Detroit, this property is comprised of two adjoining apartment communities built between 1965 and 1972 and offers multiple one- and two-bedroom floor plans. Amenities include laundry facilities, on-site management, playground and a swimming pool.