Arbor Closes Six Fannie Mae Deals Totaling $23.6M Coast to Coast
Arbor Closes Six Fannie Mae Deals Totaling $23.6M Coast to Coast
Uniondale, NY (07/25/2011)
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 six loans totaling $23,631,000 under the Fannie Mae DUS® Loan and Fannie Mae DUS® Small Loan product lines from New York to California. These loans include:
• The L at 30th Drive, Astoria, NY – This 39-unit complex received $8,900,000 funded under the Fannie Mae DUS® Loan product line. This 10-year refinance loan amortizes on a 30-year schedule.
• Ludlow Street Apartments, New York, NY – This 27-unit complex received $1,800,000 funded under the Fannie Mae DUS® Small Loan product line. This 10-year refinance loan amortizes on a 30-year schedule.
• Stones Crossing, Rock Hill, SC – The 160-unit complex received $5,400,000 under the Fannie Mae DUS® Loan product line. This 10-year refinance loan amortizes on a 30-year schedule.
• Hartford Hills Apartments, Los Angeles, CA – This 102-unit complex received $3,645,000 funded under the Fannie Mae DUS® Small Loan product line. This seven-year refinance loan amortizes on a 30-year schedule.
• 232 Union Place Apartments, Los Angeles, CA – This 50-unit complex received $2,700,000 funded under the Fannie Mae DUS® Small Loan product line. The seven-year acquisition loan amortizes on a 30-year schedule.
• 2352 Glendale Boulevard, Los Angeles, CA – This 16-unit complex received $1,186,000 funded under the Fannie Mae DUS® Small Loan product line. This seven-year refinance loan amortizes on a 30 year schedule.
All of loans were originated by Ronen Abergel, Vice President in Arbor’s full-service New York City office.
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 $7.9 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.