Arbor Funds $30M in Multifamily Deals Across Michigan
UNIONDALE, NY (Nov. 9, 2015) –Arbor Commercial Mortgage, LLC (“Arbor”), a national, direct commercial real estate lender, announced the recent funding of six loans totaling $29,855,000 across Michigan under the Freddie Mac Small Balance Loan and FHA 223(f) programs.
Mike Jehle, Vice President in Arbor’s Oklahoma City, OK, office, originated all of the loans. “Arbor has the nationwide expertise that’s required to meet borrower demands no matter where they do business, including the growing multifamily markets found throughout the country,” Jehle said. “As demonstrated by this collection of loans, Arbor is providing investors the personal service and customized loan products they need to take advantage of today’s strong multifamily market conditions.”
- Aspen Lakes Estates Apartments, Holt, MI – This 213-unit multifamily property received $20,400,000 funded under the FHA 223(f) Loan product line. The 35-year refinance loan amortizes on a 35-year schedule.
- Oakwood Villa Apartments, Royal Oak, MI – This 100-unit multifamily property received $2,700,000 funded under the Fannie Mae DUS Small Loan product line. The 20-year refinance loan amortizes on a 20-year schedule.
- Garfield Park Apartments, Fraser, MI – This 110-unit multifamily property received $2,250,000 funded under the Freddie Mac Small Balance Loan product line. The seven-year refinance loan amortizes on a 30-year schedule.
- Danbury Apartments, Grand Rapids, MI – This 66-unit multifamily property received $1,905,000 funded under the Freddie Mac Small Balance Loan. The 20-year acquisition loan amortizes on a 30-year schedule.
- North Park Cooperative, Detroit, MI – This 94-unit multifamily property received $1,600,000 funded under the Fannie Mae Small Loan product line. The 10-year acquisition loan amortizes on a 10-year schedule.
- Oak Park Apartments, Grand Rapids, MI – This 42-unit multifamily property received $1,000,000 funded under the Freddie Mac Small Balance Loan product line. The 20-year acquisition loan amortizes on a 30-year schedule.
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Aspen Lakes Estates Apartments, Holt, MI |
Danbury Apartments, Grand Rapids, MI |
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Garfield Park Apartments, Fraser, MI |
North Park Cooperative, Detroit, MI |
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Oak Park Apartments, Grand Rapids, MI |
Oakwood Villa Apartments, Royal Oak, MI |
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 Top 10 Fannie Mae DUS® Multifamily Lender and the Top Fannie Mae Small Loan lender by volume, a Freddie Mac Program Plus® Seller/Servicer and Small Balance Loan Lender, a Fannie Mae and Freddie Mac Seniors Housing 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 $11 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.