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 Closes 12 Fannie Mae Deals Totaling $53.7M; Seven in Michigan

Arbor Closes 12 Fannie Mae Deals Totaling $53.7M; Seven in Michigan

Uniondale, NY (08/23/2011)
Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC and a national, direct commercial real estate lender, announced the recent funding of 11 loans totaling $53,724,438 under the Fannie Mae DUS® Loan, Fannie Mae DUS® Small Loan, Fannie Mae DUS® Market Rate Co-op and Fannie Mae DUS® Limited Equity Co-op product lines from the Midwest to the West Coast. These loans include:

• Carriage Hill East, East Lansing, MI – This 143-unit complex received $5,000,000 funded under the Fannie Mae DUS® Loan product line. The 10-year acquisition loan amortizes on a 30-year schedule.

• Appletree Apartments, Sparta, MI – This 143-unit complex received $2,250,000 funded under the Fannie Mae DUS® Small Loan product line. The 10-year refinance loan amortizes on a 30-year schedule.

• Wood Mar Apartments, Lansing Township, MI – This 86-unit complex received $1,760,000 funded under the Fannie Mae DUS® Loan product line. This 10-year loan amortizes on a 30-year schedule.

• Colonial Square Cooperative, Ann Arbor MI – This 427-unit complex received $1,750,000 funded under the Fannie Mae DUS® Market Rate Co-op product line. The 5-year loan amortizes on a 5-year schedule.

• Tree Tops Apartments, Northville, MI – This 72-unit complex received $1,732,500 funded under the Fannie Mae DUS® Small Loan product line. The 10-year loan amortizes on a 30-year schedule.

• Cloisters Apartments, Clawson, MI – This 49-unit complex received $1,595,000 funded under the Fannie Mae DUS® Standard Loan product line. The 10-year loan amortizes on a 30-year schedule.

• Edgewood Court North, Birmingham, MI – This 30-unit complex received $1,127,500 funded under the Fannie Mae DUS® Standard Loan product line. The10-year loan amortizes on a 30-year schedule.

• River Oaks Towne Houses Cooperative, Calumet City, IL – This 270-unit complex received $5,800,000 funded under the Fannie Mae DUS® Limited Equity Co-op product line. The 30-year loan amortizes on a 30-year schedule.

• Erie Apartments, Chicago, IL – This 13-unit complex received $900,000 funded under the Fannie Mae DUS® Small Loan product line. The 10-year loan amortizes on a 30-year schedule.

• Pine Tree Townhouses Cooperative, Lawrence, KS – This 160-unit complex received $2,527,238 funded under the Fannie Mae DUS® Limited Equity Co-op product line. The 10-year loan amortizes on a 30-year schedule.

• La Pacifica Apartments, Moreno Valley, CA – This 360-unit complex received $27,000,000 funded under the Fannie Mae DUS® Standard Loan product line. The 10-year loan amortizes on a 30-year schedule.

• Crescent Cove Apartments Phase II, Evans, CO – This 48-unit complex received $2,282,200 funded under the Fannie Mae DUS® Standard Loan product line. The 8.75-year loan amortizes on a 30-year schedule.

All of the loans were originated by Michael Jehle, Midwest Regional Director in Arbor’s full-service Bloomfield Hills, MI, office. “This group of loans represent Arbor’s unique ability to fund multifamily loans throughout the United States, including those areas hardest hit in the most recent recession, primarily Michigan and the Midwest,” Jehle said. “Arbor prides itself on providing creative solutions to meet and exceed the needs and expectations of its customers.”

About Us
Founded by Chairman and CEO Ivan Kaufman, Arbor Commercial Mortgage, LLC and Arbor Commercial Funding, LLC are national direct lenders specializing in the origination of debt and equity financing and servicing for multifamily and other diverse commercial assets. Arbor is a Top 10 Fannie Mae DUS® lender and an FHA Multifamily Accelerated Processing (MAP) lender, consistently building on its reputation for service, quality and flexibility. With a current servicing portfolio of $7.4 billion, Arbor is a primary commercial loan servicer and special servicer rated by Fitch Ratings and Standard & Poor’s. Arbor is also on the Standard & Poor’s Select Servicer List.

Arbor Commercial Mortgage, LLC also manages Arbor Realty Trust, Inc., a real estate investment trust, (REIT), formed to invest in mortgage-related securities, real estate-related bridge, junior participating interests in first mortgages, mezzanine loans, preferred and direct equity investments and in limited cases, discounted mortgage notes and other real estate related assets. Arbor is headquartered in Uniondale, NY, with full-service lending offices throughout the United States. For more information about Arbor, visit www.arbor.com.