About Chatter

Welcome to Chatter! We’re happy to be your source for multifamily news, research and insight. Bookmark us and be sure to sign up for our weekly newsletter to stay on top of all things financing and investment for the multifamily industry. We also invite you to follow us on Twitter. What is Chatter? So what Read the full article…

Research

How Big is Small Cap Multifamily?

A closer look at the multifamily housing inventory in the United States and the size of the small cap investment opportunity.

Around the Web

Multifamily Forecast: Investors Moving to Secondary Markets

The apartment sector has remained the darling of the commercial real estate for the past six years. This doesn’t appear to be changing anytime soon, as 2016 is expected to set a new record for multifamily mortgage origination volume. While multifamily’s position as top dog remains uncontested, savvy investors are altering their strategy for sourcing Read the full article…

GENERAL: 800.ARBOR.10

Arbor Private Label

Arbor offers a complimentary loan program to our existing product lines to give borrowers added flexibility and financing options for their market-rate properties.

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  • Arbor Private Label Loan Program Term Sheet

    • LOAN AMOUNT

      $4 million minimum

    • LOAN TERM

      5-, 7- and 10-year options

    • AMORTIZATION

      30 years; interest-only periods can range from zero to ten years, determined by leverage, debt yield, market and overall credit quality

    • MINIMUM DSCR

      1.25x

    • MAXIMUM LTV

      75% (amortizing); 65% (full-term interest-only)

    • MINIMUM DEBT YIELD

      7%; exceptions considered on a case-by-case basis

    • INTEREST RATE

      Fixed rate over the greater of the 10-year Treasury rate or 10-year swap rate; spread varies based on risk and terms

    • ORIGINATION FEE

      Minimum of 0.25%

    • CASH MANAGEMENT

      Springing Lockbox upon EOD

    • SUBORDINATE DEBT

      Mezzanine debt available on a case-by-case basis; program can also allow for future mezzanine debt

    • BORROWER/SPONSORSHIP

      Borrower must be a newly formed, single-purpose, bankruptcy-remote Delaware LLC. Sponsor must have an established track record, appropriate net worth and liquidity commensurate with transaction; normal expectations are a minimum net worth equal to the loan amount and liquidity of no less than 10% of the loan amount

    • MINIMUM OCCUPANCY

      85%

    • COLLATERAL TYPES

      Conventional multifamily

    • TAX AND INSURANCE ESCROWS

      Monthly deposits required

    • REPLACEMENT RESERVES

      Monthly deposits required

    • RECOURSE

      Generally nonrecourse with standard carve-outs

    • PREPAYMENT

      Defeasance; open during last three months of loan term

    • EARLY RATE LOCK

      Available on a case-by-case basis

    • ASSUMPTIONS AND TRANSFERS

      One-time assumption, subject to lender approval and payment of 1% fee

Request a Quote

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