Arbor Closes New England Fannie Mae Deals Totaling $20M
UNIONDALE, NY (Dec. 18, 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 funding of eight loans totaling $20,019,000 across New England under the Fannie Mae Delegated Underwriting & Servicing (DUS®)Loan, Fannie Mae DUS® Small Loan and Fannie Mae DUS® ARM 7-6™ Loan product lines. These loans include:
Concord Portfolio, Concord, NH – This seven-property, 337-unit multifamily portfolio received a combined total of $16,325,000 funded under the Fannie Mae DUS® Loan and Fannie Mae DUS® Small Loan product lines. The 10-year refinance loans amortize on 30-year schedules. The portfolio consists of the following properties:
- Meadow Brook Apartments
- Pinewood Village
- Pines of West Concord
- Mill Place West Apartments
- Ormond Street Apartments
- Vineyard Terrace Apartments
- Prescott Street Apartments
66-72 Hamilton Street, Cambridge, MA – This 11-unit multifamily property received $3,694,000 funded under the Fannie Mae DUS® ARM 7-6™ Loan product line. The seven-year refinance loan amortizes on a 30-year schedule. Each apartment at 66-72 Hamilton Street includes stainless steel kitchen appliances, wood cabinets and granite countertops.
All of the loans were originated by Ronen Abergel, Vice President in Arbor’s New York City office.
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 $9.6 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.