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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

Fannie Mae Arbor 85 Preferred

Based on Arbor’s extensive experience with multifamily mezzanine finance, we now have a product with Fannie Mae where we merge the best elements of the Fannie Mae DUS program with the extra proceeds of mezzanine finance provided by Arbor Realty Trust.

Minimum Loan Amount $25,000,000
Minimum Mezzanine Loan Amount $2,500,000
Loan Term Up to 10 years
Mezzanine loan must be conterminous with the Fannie Mae first mortgage
Loan Purpose Acquisition
Amortization Up to 30 years.
Maximum LTV Up to 85% Combined
Rate Structure Fixed rate options available
Eligible Property Multifamily
Eligible Borrower Single-asset entity required for DUS and Mezzanine loans
Occupancy Requirement 85% physical occupancy and 70% economic.
Tax & Insurance Escrows Monthly deposit required
Replacement Reserve Per Engineer Report
Recourse Generally non-recourse with standard carve-outs for “bad acts” such as fraud and bankruptcy.
Commercial Space Eligible, not to exceed 35% of GBA and 20% of EGI
Collateral/Security Fannie Mae first mortgage
Arbor Realty SR, Inc. mezzanine loan up to 85% combined LTV
Mezzanine secured by 100% pledge and assignment of all ownership interests in the property owner
Required Reports Appraisal, Property Condition Assessment, Phase I and Seismic Report
Prepayment Yield maintenance or defeasance
Assumable Subject to approval and 1% fee
Supplemental Loans Eligible for secondary financing after 12 months subject to a maximum 75% LTV and 1.30 DSCR
Any supplemental loan must repay mezzanine loan
Rate Lock Standard 10-day rate lock period. Early and extended rate lock options available
Application Deposit $50,000. Covers estimated processing and legal fees.
Origination Fee Minimum 1%. Par pricing available on first mortgage
Good Faith Deposit 2% of loan amount

V082018

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