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Home | Resources & Press | Arbor Closes Nine Fannie Mae DUS® Loans Totaling $32.9M Across U.S.

Arbor Closes Nine Fannie Mae DUS® Loans Totaling $32.9M Across U.S.

Arbor Closes Nine Fannie Mae DUS® Loans Totaling $32.9M Across U.S.

Uniondale, NY (03/11/2011)
Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of nine loans totaling $32,902,500 under the Fannie Mae DUS® Loan and Fannie Mae DUS® Small Loan product lines across the United States:

• Creekwood Landing Apartments, Richwood, TX – The 256-unit complex received $7,117,500 funded under the Fannie Mae DUS® Loan product line. The 10-year loan amortizes on a 30-year schedule.

• Sunset Place Apartments, West Palm Beach, FL – The 192-unit complex received $6,500,000 funded under the Fannie Mae DUS® Loan product line. The 10-year loan amortizes on a 30-year schedule and provided the borrower with a cash-out refinance opportunity after a long-term hold.

• Olive Tree Apartments, Lauderhill, FL – The 88-unit complex received $3,300,000 funded under the Fannie Mae DUS® Loan product line. The 10-year acquisition loan amortizes on a 30-year schedule.

• Crooke-Woodruff Apartments, Brooklyn, NY – The 107-unit complex received $6,400,000 funded under the Fannie Mae DUS® Loan product line. The five-year loan amortizes on a 30-year schedule.

• Bushwick Avenue Apartments, Brooklyn, NY – The 12-unit complex received $2,120,000 funded under the Fannie Mae DUS® Small Loan product line. The 10-year loan amortizes on a 30-year schedule.

• Mountainbrow Village, Corning, NY – The 57-unit complex received $1,690,000 funded under the Fannie Mae DUS® Small Loan product line. The 10-year loan amortizes on a 30-year schedule.
• 148-152 Elm St., Yonkers, NY – The 20-unit complex received $1,200,000 funded under the Fannie Mae DUS® Small Loan product line. The 10-year loan amortizes on a 30-year schedule.

• 1145 Dean Street Apartments, Brooklyn, NY – The 10-unit complex received $1,125,000 funded under the Fannie Mae DUS® Small Loan product line. The 10-year loan amortizes on a 30-year schedule.

• Blackwolf Run II-6, Raleigh, NC – The 39-unit complex received $3,450,000 funded under the Fannie Mae DUS® Loan product line. The nine-year refinance loan amortizes on a 30-year schedule for this repeat Arbor borrower.

The loans were originated by Alexander Kaushansky, Director, in Arbor’s full-service New York, NY, lending office. “With each of these geographically diverse transactions, Arbor was happy to provide the borrowers with the strongest financing terms available in the marketplace,” Kaushansky said. “In the case of the Florida and Texas transactions, the broker in these deals played an integral part in making the funding process seamless for all parties. And with regard to the Elm Street, Dean Street and Bushwick Avenue transactions, each involved a distressed asset acquisition where the borrowers provided significant equity investments for capital improvements. We were happy to provide permanent financing in each of these deals.”

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 $7.7 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.

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