Arbor Realty Trust, Inc. provided the funding for three Fannie Mae loans totaling $13.7M in Wichita, Kansas.
Kingston Cove Apartments received $8.9 million in acquisition financing, with a 12-year fixed-rate, one year of interest-only payments and a 30-year amortization, through the Fannie Mae DUS® program. Set on the shore of a private 20-acre lake, the 252-unit complex includes one- and two-bedroom apartments. It also features a fitness center, pool, volleyball court, clubhouse, boat dock and on-site boat storage. Fine dining, retail shopping and OJ Watson Park are nearby.
The Danish Village Apartments received $2.1 million in acquisition funding, with a 12-year fixed-rate through Fannie Mae Small Loan program. The recently remodeled, 78-unit complex features spacious, one- and two-bedroom apartments with new appliances, carpets and vinyl floors. Retail shopping and the McConnell Air Force Base are within a short driving distance.
Pine Creek Apartments received $2.7 million in acquisition financing, with a 12-year fixed-rate and a 30-year amortization, through the Fannie Mae Small Loan program. The 68-unit property features two-bedroom apartments and a playground. Just three miles from Downtown Wichita, the complex is conveniently located to local golf courses and parks.