Arbor Funds $29.8M Coast to Coast in Fannie Mae Multifamily Deals
UNIONDALE, NY (Feb. 12, 2015) – Arbor Commercial Mortgage, LLC (“Arbor”), a national, direct commercial real estate lender, announced the recent funding of nine loans totaling $29,818,600 across the nation under the Fannie Mae Delegated Underwriting & Servicing (DUS®) Loan, FHA 223(f) Loan, Fannie Mae DUS Affordable Housing product lines.
All of the loans, which stretch from Alaska to Massachusetts, were originated by Ryan Duff, Sales Originator in Arbor’s Boston, MA, office. “As a national direct lender, Arbor has a wide-range of market knowledge throughout the nation, including such diverse markets as Texas, Ohio, South Carolina and even Alaska,” Duff said. “As demonstrated by this collection of loans, Arbor is providing the personal service and expertise needed for investors to take advantage of today’s strong multifamily market conditions.”
- Ashley Village, North Charleston, SC – This 266-unit multifamily property received $8,261,400 funded under the Fannie Mae DUS Loan product line. The seven-year acquisition loan amortizes on a 30-year schedule. Property amenities include a clubhouse/leasing office, a swimming pool, a fitness center, a playground and a laundry facility.
- La Hacienda Apartments, Dallas, TX – This 200-unit multifamily property received $4,500,000 funded under the Fannie Mae DUS Loan product line. The seven-year refinance loan amortizes on a 30-year schedule.
- Casa Feliz Apartments, Dallas, TX – This 161-unit multifamily property received $3,900,000 funded under the Fannie Mae DUS Loan product line. The 10-year refinance loan amortizes on a 30-year schedule.
- Shady Oaks Apartments, Mount Pleasant, TX – This 74-unit multifamily property received $1,900,000 funded under the Fannie Mae DUS Loan product line. The 10-year acquisition loan amortizes on a 30-year schedule. Each apartment unit features a refrigerator, a freezer, an electric stove, an oven and a dishwasher.
- Olive Tree Apartments, Livingston, CA – This 86-unit multifamily property received $3,200,000 funded under the Fannie Mae DUS Loan product line. The seven-year acquisition loan amortizes on a 30-year schedule. Common amenities at the property include a swimming pool, a picnic area, a playground and an on-site laundry room.
- Northgate Apartments, Zanesville, OH – This 86-unit multifamily property received $2,470,000 funded under the Fannie Mae DUS Loan product line. The 10-year refinance loan amortizes on a 30-year schedule. The property amenities include a leasing office, a central laundry facility, a community room, a playground and property storage areas.
- Parkway Arms Apartments, Lakewood, OH – This 42-unit multifamily property received $750,000 funded under the Fannie Mae DUS Small Loan product line. The 10-year refinance loan amortizes on a 30-year schedule. The property includes air conditioners, frost-free refrigerators and stainless steel appliances.
- Adams Court Apartments, Mattapan, MA – This 50-unit multifamily property received $2,436,000 funded under the FHA 223(f) Loan product line. The 35-year refinance loan amortizes on a 35-year schedule. The property amenities include common laundry facilities in each of the buildings, off-street parking and balconies for most non-ground level apartments.
- Southside Seniors Apartments, Anchorage, AK – This 48-unit multifamily property received $1,650,000 funded under the Fannie Mae DUS Multifamily Affordable Housing product line. The 15-year refinance loan amortizes on a 30-year schedule. Unit amenities include a refrigerator, a stove, a microwave, a dishwasher and a washer/dryer.
- Waverly Gardens Apartments, Oklahoma City, OK – This 24-unit multifamily property received $751,200 funded under the Fannie Mae DUS Small Loan product line. The seven-year refinance loan amortizes on a 30-year schedule. The apartments feature walk-in closets, patios or balconies and hookups for full size laundry equipment.
About Us
Founded by Chairman and CEO Ivan Kaufman, Arbor Commercial Mortgage, LLC and Arbor Commercial Funding, LLC are national direct lenders specializing in loan origination and servicing for multifamily, seniors housing, healthcare and other diverse commercial real estate assets. Arbor is a 2013 Top 10 Fannie Mae DUS® Multifamily Lender by volume, a Freddie Mac Program Plus® Seller/Servicer and Small Balance Loan lender, an FHA Multifamily Accelerated Processing (MAP)/LEAN Lender, a HUD-approved LIHTC Lender as well as a CMBS, Bridge and Mezzanine lender, consistently building on its reputation for service, quality and flexibility. With a current servicing portfolio of more than $10 billion, Arbor is a primary commercial loan servicer and special servicer rated by Standard & Poor’s and holds an Above Average rating from Standard & Poor’s. Arbor is also on the Standard & Poor’s Select Servicer List and is a primary commercial loan servicer and loan level special servicer rated by Fitch Ratings.
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.