Arbor Closes 9 Fannie Mae Deals Across All Regions Totaling $31.5M
Uniondale, NY (10/27/2011)
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 nine loans totaling $31,478,900 under the Fannie Mae DUS® Loan, Fannie Mae DUS® Small Loan and Fannie Mae DUS® Military Housing product lines across all U.S. regions. These loans include:
• Park Trails Apartments, Wauconda, IL – This 84-unit complex received $4,350,000 funded under the Fannie Mae DUS® Small Loan product line. The 10-year refinance loan amortizes on a 30-year schedule.
• Stave and Francis Apartments, Chicago, IL – This 21-unit complex received $1,000,000 funded under the Fannie Mae DUS® Loan product line. The 10-year refinance loan amortizes on a 30-year schedule.
• East Village Apartments, New York, NY – This 49-unit complex received $3,850,000 funded under the Fannie Mae DUS® Small Loan product line. The five-year refinance loan amortizes on a 30-year schedule.
• Holland House Apartments, Utica, NY – This 47-unit complex received $1,300,000 funded under the Fannie Mae DUS® Small Loan product line. The 10-year refinance loan amortizes on a 30-year schedule.
• Bentwood Apartments, Lubbock, TX – This 216-unit complex received $6,700,000 funded under the Fannie Mae DUS® Loan product line. The 10-year acquisition loan amortizes on a 30-year schedule.
• Horizon Park Apartments, Nashville, TN – This 222-unit complex received $6,500,000 funded under the Fannie Mae DUS® product line. The 10-year refinance loan amortizes on a 30-year schedule.
• Charleston Place Apartments, Jacksonville, NC – This 120-unit complex received $6,275,000 funded under the Fannie Mae DUS® Military Housing (83% concentration) product line. The 10-year refinance loan amortizes on a 30-year schedule.
• Palms Patio, San Diego, CA – This 32-unit complex received $2,300,000 funded under the Fannie Mae DUS® Small Loan product line. The 10-year refinance loan amortizes on a 30-year schedule.
• 9th Avenue Apartments, Greeley, CO – This 40-unit complex received $1,503,900 funded under the Fannie Mae DUS® Small Loan product line. The 10-year refinance loan amortizes on a 30-year schedule.
All of the loans were originated by Stephen York, Director, in Arbor’s full-service New York City office. “With all but one of these transactions refinances, we continue to see especially strong refinance demand and opportunity for borrowers in the market as interest rates continue to remain at historic lows,” York said. “These deals also demonstrate Arbor’s unique ability to finance all types of multifamily properties within every region of the U.S., regardless of loan size, which is a claim that many other competing lenders cannot make.”
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 $8.4 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.