Romer Debbas LLP’s Agency Lending & Affordable Housing group represented Arbor Commercial Funding I, LLC (“Arbor”), in the closing of a $45,000,000 Fannie Mae DUS Conventional refinance loan secured by a housing project located in Stone Mountain, Georgia (“Property”).   The Property was built in the 1970s and fully renovated in 2019. The sponsor purchased the subject Property completely vacant in 2012 and completed a full multi-phase gut renovation program, investing approximately $12,300,000 in improvements.  Prior to closing, a 13-acre wooded parcel owned by the Borrower was released from the Project to be sold to a third party for development purposes.  Prior to the release, the RD Agency legal team collaborated with Arbor to ensure that there would be no environmental concerns or negative impact on the loan collateral.

Senior Associate, Catherine Azevedo, Esq., who was the main counsel on this transaction worked closely with Carmen Iris Pagan, Esq., Head of the Agency Lending & Affordable Housing practice, and was assisted by members of the RD Agency Team.