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HAMDEN, Conn. — Arbor Realty Trust Inc. has funded $7.5 million in Fannie Mae DUS financing for Meadow Mills Assisted Living & Memory Care.
Located on two acres in Hamden, just north of New Haven near Long Island Sound, the property offers 60 units of assisted living and memory care.
The loan includes a 10-year, fixed-rate term on a 30-year amortization schedule, and will be used to refinance existing debt. Ari Short of Arbor’s New York City office originated the loan.
“The borrowers effectively executed their business plan to increase revenue since acquisition, and we were able to structure a loan featuring a return of equity to investors while securing long term debt at an attractive rate,” says Short.