Arbor Closes 7 Loans Totaling $40M in 4 States

Three Fannie Mae DUS® Loans Total $21,877,700

UNIONDALE, NY--Arbor Commercial Funding LLC ("Arbor"). a wholly-owned subsidiary of Arbor Commercial Mortgage LLC, has funded three loans totaling $21,877,700 under the Fannie Mae DUS® product line. These loans include:

Jamestown Commons, Fayetteville, NC (top left photo)- Refinance of a 216-unit complex in the amount of $16,161,000 under the Fannie Mae DUS® product line. The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.41 percent.

The Grant House, South Berwick, ME – Supplemental financing for a 22-unit complex in the amount of $185,900 under the Fannie Mae DUS® Small Loan product line. The 6-year loan amortizes on a 30-year schedule and carries a note rate of 6.70 percent.

Commons at Churchland, Chesapeake, VA - Refinance of a 124-unit complex in the amount of $5,530,800 under the Fannie Mae DUS® MAH product line. The 5-year loan amortizes on a 30-year schedule and carries a note rate of 5.02 percent.

The loans were originated by John Edwards, (top right photo)Vice President, in Arbor’s full-service Boston, MA lending office. “We were pleased with the opportunity to provide financing for these well-located properties with strong sponsorship,” said Edwards.

Four DUS® Loans Totaling $18,285,500 Closed in Texas

Arbor also funded four loans totaling $18,285,500 under the Fannie Mae DUS® product line. These loans include:

Tree Top Apartments, Grand Prairie, TX – Refinance of a 128-unit complex in the amount of $3,804,300 under the Fannie Mae DUS® Cash product line. The 7-year loan amortizes on a 30-year schedule and carries a note rate of 6.41 percent.

Northwood Apartments, Houston, TX (bottom left photo) – Acquisition loan for a 326-unit complex in the amount of $5,630,200 under the Fannie Mae DUS® product line. The 7-year loan amortizes on a 30-year schedule and carries a note rate of 6.63 percent.

St. Cloud Apartments, Houston, TX - Acquisition loan for a 302-unit complex in the amount of $7,501,000 under the Fannie Mae DUS® Small Loan product line. The 10-year loan amortizes on a 30 year schedule and carries a note rate of 6.80 percent.

Stafford Oaks, Stafford, TX (bottom right photo)-– Supplemental loan for a 175-unit complex in the amount of $1,350,000 under the Fannie Mae DUS® product line. The 9-year loan amortizes on a 30-year schedule and carries a note rate of 6.78 percent.

The loans were originated by Matt Norman, (middle right photo) Director, in Arbor’s full-service Dallas, TX lending office.

“Arbor utilized the Fannie DUS® line for three differing structures on the subject loans, illustrating the versatility of the product line,” said Norman.

“One standard post-acquisition refinance, two acquisition loans with minor rehab, and a Supplemental loan on a repositioned property – all of which require differing strategic analysis.

"Arbor’s team worked through minor issues on all four loans, and in each case, provided financing that helped the Borrower meet his or her specific goals.”

Contact: Ingrid Principe, Tel: (516) 506-4298 iprincipe@arbor.com