Finance p Tennessee

Arbor provides $4.4 million acquisition loan for Knoxville apartment community

Arbor provides $4.4 million acquisition loan for Knoxville apartments,ph01

Arbor Realty Trust, Inc. recently funded a Fannie Mae DUS® loan of more than $4.4 million in Knoxville, Tennessee, for Sunset Rill Apartments.

The 180-unit property received $4.478 million in acquisitin funding. The deal provides a seven-year fixed term with a 30-year amortization schedule.

Matt Madacsi of Arbor’s New York City office originated the loan.

Located off Interstate-40 in the Holston Hills area, the pet-friendly apartment complex is minutes from downtown Knoxville and offers one- to three-bedroom floor plans and amenities that include a swimming pool, clubhouse, cable and high-speed internet, and laundry facilities.