Arbor Realty Trust recently funded a Freddie Mac conventional loan in Kansas City, Missouri, for Lakeview Terrace, a 541-unit manufactured property.
Arbor originated a loan of $16 million for refinancing. The transaction provides a 10-year fied-rate with a three-year interest-only term.
Jason Scott, regional managing director with Arbor, originated the loan.
Located just north of the Missouri River, Lakeview Terrace was built in 1970 and offers newly renovated mobile homes. Amenities include a clubhouse, leasing office, two swimming pools, basketball court and playground.