Arbor Realty Forecloses on Another Houston Multifamily Property!

Arbor Realty, a prominent New York-based lender, is foreclosing on yet another multifamily property in Houston. This time, the focus is on Northbrooke Apartments, located at 17111 Hafer Road. This significant move follows a default by Northbrooke SPE on a $32.5 million loan issued in February 2022. Harris County records indicate that Northbrooke SPE, associated with Mudra Investments and managed by Raxit and Rahul Patel, failed to meet its loan obligations, which amounted to $135,400 per unit.