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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.

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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 $62.7M in Fannie Mae & Bridge Deals Across the Southeast

UNIONDALE, NY (July 10, 2012) – 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 closing of 13 loans totaling $62,668,200 across Virginia, North Carolina and Georgia under the Fannie Mae Delegated Underwriting and Servicing (DUS®)Loan, Fannie Mae DUS® Small Loan and Arbor Bridge Loan product lines. These loans include:

  • Woodland Trail Apartments, LaGrange, GA – This 236-unit multifamily property received $17,140,000 funded under the Fannie Mae DUS® Loan product line. The 10-year refinance loan amortizes on a 30-year schedule. Woodland Trail was constructed in 2009 and has quickly become the highest-quality asset in its market. Site amenities include a clubhouse with a computer-equipped business center, a saltwater swimming pool with a sundeck, picnic areas and a nature preserve area featuring a nature trail. The Kalikow Group was the borrower.
  • Ashbury Square Apartments, Mebane, NC – This 192-unit multifamily property received $10,779,300 funded under the Fannie Mae DUS® Loan product line. The 10-year refinance loan amortizes on a 30-year schedule. Ashbury Square is a Class A property that was built in 2005, and its amenities include a swimming pool and clubhouse. The Kalikow Group was the borrower.
  • A 112,880-square-foot retail property in Chapel Hill, NC received a $10,000,000 acquisition loan with a 60-month term under Arbor’s Bridge Loan product line.
  • Chase on Commonwealth Apartments, Charlotte, NC – This 132-unit multifamily property received $4,739,000 funded under the Fannie Mae DUS® Loan product line. The 10-year refinance loan amortizes on a 30-year schedule. Chase on Commonwealth’s amenities include an in-ground swimming pool and a fitness center.
  • The Landing on Farmhurst, Charlotte, NC – This 125-unit multifamily property received $3,700,000 funded under the Fannie Mae DUS® Loan product line. The 10-year refinance loan amortizes on a 30-year schedule. The property is currently undergoing renovations and includes such amenities as an in-ground swimming pool, a fitness center and a sauna.
  • The Oaks Apartments, Raleigh, NC – This 88-unit multifamily property received $3,150,000 funded under the Fannie Mae DUS® Loan product line. The 10-year refinance loan amortizes on a 30-year schedule. The Oaks Apartments is currently undergoing renovations that will yield new appliances for units as well as new site amenities, including an in-ground swimming pool and a clubhouse.
  • Sharonridge Apartments, Charlotte, NC – This 75-unit multifamily property received $3,000,000 funded under the Fannie Mae DUS® Loan product line. The 10-year refinance loan amortizes on a 30-year schedule. Sharonridge is undergoing renovations, and its site amenities include an extensive clubhouse and a swimming pool with a surrounding sundeck.
  • 930 Providence Road, Chesapeake, VA – This 32-unit multifamily property received $1,800,000 funded under the Fannie Mae DUS® Small Loan product line. The 10-year refinance loan amortizes on a 30-year schedule. The property was renovated in 2011 and now includes remodeled kitchens, bathrooms and common halls as well as a refurbished laundry room.
  • 710-722 East 29th Street, Norfolk, VA – This 28-unit multifamily property received $1,200,000 funded under the Fannie Mae DUS® Small Loan product line. The 10-year refinance loan amortizes on a 30-year schedule. The property was renovated in 2010, yielding significant interior and exterior improvements, including new roofs, air conditioners, windows and gutters. The parking lot was also resurfaced.
  • 1507 O’Keefe Street, Norfolk, VA – This 24-unit multifamily property received $1,095,000 funded under the Fannie Mae DUS® Small Loan product line. The 10-year refinance loan amortizes on a 30-year schedule. The property was renovated in 2010 to update numerous interior and exterior aspects.
  • 2011 Chesapeake Drive, Chesapeake, VA – This 24-unit multifamily property received $1,044,900 funded under the Fannie Mae DUS® Small Loan product line. The 10-year refinance loan amortizes on a 30-year schedule. The property underwent significant renovations in 2008 and achieved many improvements including new roofs, windows and shutters on all buildings and new air conditioner wall units and appliances in each apartment.
  • 811-819 East 29th Street, Norfolk VA – This 24-unit multifamily property received $1,020,000 funded under the Fannie Mae DUS® Small Loan product line. The 10-year refinance loan amortizes on a 30-year schedule. The property underwent significant renovations in 2010.

All of the loans were originated by Brian Scharf, Vice President in Arbor’s Uniondale, NY, office. “All of the loans in this collection of recently closed Southeast deals represent business with repeat clients, a long-standing hallmark of Arbor.” Scharf said. “We continue to see further strengthening in multifamily housing fundamentals across all asset classes and, as a result, we intend to grow our loan production not only in the fundamentally sound Southeast region, but across the nation, encompassing major secondary and tertiary markets as well as Class A, B and C properties and loans of all sizes.”

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® Multifamily 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 $9.2 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.