Arbor Funds $54M Under Freddie Mac’s Small Balance Loan Program
By Matt Maison
July 12, 2016
UNIONDALE, N.Y. — Arbor Commercial Mortgage has recently funded 22 loans totaling $54,938,100 across New York, Florida and New Jersey under Arbor’s Freddie Mac Small Balance Loan program.
Ari Short, an originator in the firm’s New York office, originated each of the loans.
“Arbor has the nationwide expertise that’s required to meet borrower demands no matter where they do business, including across the vibrant East Coast market,” Short said. “As demonstrated by this collection of loans, Arbor is providing investors the personal service and customized loan products they need to take advantage of today’s strong multifamily market conditions.”
The loans included the following:
New York
- Bronx Portfolio, Bronx, NY – Ninety-seven units stretched over three multifamily properties property received a total of $12,670,000 funded under Freddie Mac Small Balance Loan product line. The 20-year refinance loan with five years fixed amortizes on a 30-year schedule.
- Eastern Parkway Portfolio, Brooklyn, NY – Forty-nine units stretched over five multifamily properties received a total of $9,617,100 funded under Freddie Mac Small Balance Loan product line. The 20-year refinance loan with five years fixed amortizes on a 30-year schedule.
- 429 Lenox Avenue Apartments, New York, NY – This 23-unit multifamily property received $5,125,000 funded under the Freddie Mac Small Balance Loan product line. The 20-year refinance loan with five years fixed amortizes on a 30-year schedule.
- 3212 Cruger Avenue, Bronx, NY – This 27-unit multifamily property received $3,100,000 funded under the Freddie Mac Small Balance Loan product line. The 20-year refinance loan with five years fixed amortizes on a 30-year schedule.
- 402 E 136th Street Apartments, New York, NY – This 20-unit multifamily property received $2,850,000 funded under the Freddie Mac Small Balance Loan product line. The 20-year refinance loan with five years fixed amortizes on a 30-year schedule.
- 181, 183, 187 City Island Avenue, Bronx, NY – This 18-unit multifamily property received $2,100,000 funded under the Freddie Mac Small Balance Loan product line. The 20-year refinance loan with five years fixed amortizes on a 30-year schedule.
- 1006 Intervale Avenue, Bronx, NY – This 21-unit multifamily property received $2,000,000 funded under Freddie Mac product line. The 20-year refinance loan with five years fixed amortizes on a 30-year schedule.
- 522 E 149th Street Apartments, New York, NY – This 10-unit multifamily property received $1,380,000 funded under the Freddie Mac Small Balance Loan product line. The 20-year refinance loan with five years fixed amortizes on a 30-year schedule.
- 317 E 150th Street Apartments, New York, NY – This 16-unit multifamily property received $1,325,000 funded under the Freddie Mac Small Balance Loan product line. The 20-year refinance loan with five years fixed amortizes on a 30-year schedule.
Florida
- Miami Portfolio – One hundred seventy-seven units stretched over six multifamily properties received a total of $12,346,000 funded under the Freddie Mac Small Balance Loan product line. The 20-year refinance loan with five years fixed amortizes on a 30-year schedule.
New Jersey
- 112-118 Tonnele Avenue, Jersey City, NJ – This 27-unit multifamily property received a total of $2,425,000 funded under the Freddie Mac Small Balance Loan product line. The 20-year refinance loan with five years fixed amortizes on a 30-year schedule.