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How Big is Small Cap Multifamily?

A closer look at the multifamily housing inventory in the United States and the size of the small cap investment opportunity.

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Multifamily Forecast: Investors Moving to Secondary Markets

The apartment sector has remained the darling of the commercial real estate for the past six years. This doesn’t appear to be changing anytime soon, as 2016 is expected to set a new record for multifamily mortgage origination volume. While multifamily’s position as top dog remains uncontested, savvy investors are altering their strategy for sourcing Read the full article…

GENERAL: 800.ARBOR.10

Arbor Funds $9.9M in FHA Loans for Two Assisted Living Facilities

UNIONDALE, NY (June 24, 2014) – Arbor Commercial Mortgage, LLC (“Arbor”), a national, direct commercial real estate lender, announced the recent funding of $9,922,900 for two assisted living facilities, Oliver Woods Retirement Village in Owosso, MI, and Marycrest Assisted Living in Denver, CO.

The financing for both loans was funded under the Federal Housing Administration (FHA) 232/223(f) LEAN mortgage insurance program. With Arbor’s dedicated FHA Seniors Housing and Healthcare platform continuing to expand, the owners of both facilities were able to use Arbor’s expertise to assist them through the complexities of the FHA mortgage insurance application process, enabling the transactions to close quickly.

“Arbor’s process was very efficient and their experience with FHA transactions helped support a smooth borrowing experience,” Oliver Woods’ ownership stated.

The $6,497,900 loan for the 80-unit Oliver Wood Retirement Village is comprised of a 35-year term with a 35-year amortization. The property was built in four phases between 2004 and 2012 and is comprised of four buildings, two of which are designated for general assisted living and two of which focus on residents with greater care needs. Common areas include a central dining room, several activity centers and a library. Each unit has staff-monitored emergency pull chords in the bathrooms and bedrooms. Most of the one-bedroom units contain kitchenettes and each unit has individually controlled heating and air conditioning.

“Oliver Woods is a strong investment among many in the owner’s portfolio. As such, in this deal he was able to lock in extremely favorable financing terms for 35 years, which was only available through the FHA platform,” explained Jenifer Williams, AVP, FHA Deputy Chief Underwriter in Arbor’s Allen, TX, office. “Beyond providing the competitive terms, Arbor was also pleased to be able to take its standard hands-on approach with the transaction, which enabled it to close in an expeditious manner, providing the owner with his funding that much faster and easier.”

The $3,425,000 loan for the 138-unit Marycrest Assisted Living facility is also comprised of a 35-year term with a 35-year amortization. The non-profit facility opened in 1998 and serves elderly and developmentally disabled adults. The project was built on land belonging to The Sisters of St. Francis, who had used the greater convent campus since 1900 to serve homeless adults and provide education for low-income children.  The Marycrest project was originally financed as a risk-share between the Colorado Housing Authority and the U.S. Department of Housing and Urban Development and has been an important part of the City of Denver’s plan to preserve affordable housing options.

“Arbor was very pleased to be able to facilitate a low-interest 35-year HUD loan with Marycrest,” Williams said. “It secured the project’s ability to serve an at-risk population for the foreseeable future.”

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 and other diverse commercial real estate assets. Arbor is a Top 10 Fannie Mae DUS Loan Multifamily Lender by origination volume, 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 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.