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| Heatherton Estates Apartments, Florissant, MO |
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| 803--813 Westwood Apartments, Clayton, MO |
UNIONDALE, NY (Aug. 19, 2013) - 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 18 loans totaling $64,957,500 across every region of the country.
These diverse loans
were funded under the Fannie Mae Delegated Underwriting & Servicing (DUS®),
Fannie Mae DUS® Small Loan, Fannie Mae DUS® Student Housing and Arbor
Commercial Mortgage CMBS product lines.
These loans include:
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| 765 Westwood Apartments, Clayton, MO |
· Heatherton
Estates Apartments, Florissant, MO – This 256-unit multifamily property
received $8,500,000 funded under the Fannie Mae DUS® Loan product line. The
15-year refinance loan amortizes on a 30-year schedule. The complex consists of
150 garden-style units and 106 townhouse units. The property is well located
within the overall St. Louis county area and is located within close proximity
to major transportation arteries.
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| Pine Meadow Garden Apartments, St. Louis, MO |
· 803-13
Westwood Apartments, Clayton, MO – This 36-unit multifamily property
received $3,125,000 funded under the Fannie Mae DUS® Small Loan product line.
The 15-year refinance loan amortizes on a 30-year schedule. The apartment
complex is located approximately eight miles west of downtown St. Louis.
· 765
Westwood Apartments, Clayton, MO – This 33-unit multifamily property
received $2,168,000 funded under the Fannie Mae DUS® Small Loan product line.
The 15-year refinance loan amortizes on a 30-year schedule. The apartment
complex is located approximately eight miles west of downtown St. Louis.
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| Lindell Boulevard Apartments, St. Louis, MO |
· Pine
Meadow Garden Apartments, St. Louis, MO – This 38-unit multifamily property
received $1,685,000 funded under the Fannie Mae DUS® Small Loan product line.
The 20-year refinance loan amortizes on a 20-year schedule. Common amenities
include three area washers and dryers and a tenant storage area.
· Lindell
Boulevard Apartments, St. Louis, MO – This 36-unit multifamily property
received $2,428,500 funded under the Fannie Mae DUS® Student Housing Loan
product line. The 20-year refinance loan amortizes on a 20-year schedule.
Lindell Boulevard Apartments is located less than four miles from Washington
University and within one mile of St. Louis University. Common amenities
include garage parking, personal storage lockers for each tenant, a security
entry system and a central laundry facility.
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| Gessner Park Apartments, Houston, TX |
· Gessner
Park Apartments, Houston, TX – This 224-unit multifamily property received
$6,500,000 funded under the Fannie Mae DUS® Loan product line. The 10-year
refinance loan amortizes on a 30-year schedule. The property is located
approximately 11 miles northwest of downtown Houston. Amenities include a
swimming pool and deck with a charcoal grill and picnic table. Each apartment
includes connections for full-size laundry equipment (washer/dryer).
· Wildflower
Apartments, Austin, TX – This 192-unit multifamily property received
$5,720,000 funded under the Fannie Mae DUS® Loan product line. The 10-year
acquisition loan amortizes on a 30-year schedule. The property is approximately
10 miles from Downtown Austin and is within close proximity to the
Austin-Bergstom International Airport. General resident amenities include a
pool and a central laundry.
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| Wildflower Apartments, Austin, TX |
· Governor’s
Apartments, Austin, TX – This 24-unit multifamily property received
$3,561,000 funded under the Fannie Mae DUS® Loan product line. The 10-year
acquisition loan amortizes on a 30-year schedule. One of the buildings on the
property is the former Governor’s mansion and has an historic landmark
designation. There complex offers a laundry room available in each residential
building as well as a resident swimming pool.
· Whitewood
Oaks Apartments, San Antonio, TX – This 130-unit multifamily property
received $3,060,000 funded under the Fannie Mae DUS® Loan product line. The
seven-year refinance loan amortizes on a 25-year schedule. Amenities at
Whitewood Oaks include two swimming pools, barbeque grills, carports and six
laundry rooms, which are located inside each of the residential buildings.
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| Kerrybrook Apartments, San Antonio, TX |
· Kerrybrook
Apartments, San Antonio, TX – This 49-unit multifamily property received
$1,540,000 funded under the Fannie Mae DUS® Small Loan product line. The
30-year refinance loan amortizes on a 30-year schedule. Kerrybrook Apartments
is located approximately 10 miles north of downtown San Antonio.
· 2146-2148
Second Avenue, New York, NY – This 32-unit, 21,250-square foot mixed-use
property received $6,300,000 funded under the Arbor CMBS loan product line. The
10-year refinance loan amortizes on a 30-year schedule.
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| Barbara Manor Apartments, Rochester, NY |
· Barbara
Manor Apartments, Rochester, NY – This 56-unit multifamily property
received $1,500,000 funded under the Fannie Mae DUS® Small Loan product line.
The 10-year refinance loan amortizes on a 30-year schedule. Barbara Manor offers a central laundry area
in each of its 11 separate buildings.
· Whisperwood,
Austell, GA – This 267-unit multifamily property received $4,500,000 funded
under the Arbor CMBS loan product line.
This 10-year refinance loan amortizes on a 30-year schedule. Austell is located approximately 18 miles
from Atlanta.
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| Gramercy Villas Apartments, Meridian, ID |
· Gramercy
Villas Apartments, Meridian, ID – This 48-unit multifamily property
received $3,500,000 funded under the Fannie Mae DUS® Loan product line. The
10-year acquisition loan amortizes on a 30-year schedule. The complex is well
located approximately 15 minutes from downtown Boise, ID. Each unit within the
apartment complex has a washer and dryer and includes stainless steel
appliances, granite countertops and stained wooden cabinets.
· Wilmington
Villas Apartments, Wilmington, CA – This 20-unit multifamily property
received $1,560,000 funded under the Fannie Mae DUS® Small Loan product line.
The 10-year acquisition loan amortizes on a 30-year schedule. The complex is
approximately 21 miles south of downtown Los Angeles.
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| Riverside Regency Apartments Sherman Oaks, CA |
· Riverside
Regency Apartments, Sherman Oaks, CA – This 20-unit multifamily property
received $1,500,000 funded under the Fannie Mae DUS® Small Loan product line.
The 20-year refinance loan amortizes on a 20-year schedule. Riverside Regency
Apartments include a pool located centrally in the property’s courtyard. With
an accompanying picnic area with umbrella tables and a grill.
· The
Village Apartments, Arcata, CA – This 84-unit multifamily property received
$1,250,000 funded under the Fannie Mae DUS® Small Loan product line. The
30-year refinance loan amortizes on a 30-year schedule.
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| The Village Apartments, Arcata, CA |
All of the loans were originated by Brian Scharf,
Vice President in Arbor’s Uniondale, NY office.
“Arbor offers unique financing capabilities in the multifamily
arena, as it offers one of the most diverse loan product lineups in the
industry, from Fannie Mae to FHA to CMBS, Bridge and Mezzanine lending.
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| Brian Scharf |
“Such diversity was key in providing these borrowers the
right terms for their particular properties and investment scenarios,” Scharf
said. “We are also able to combine such product diversity with our strong
geographic reach, allowing us to provide our clients financing expertise
wherever they do business.”
For a complete
copy of the company’s news release, please contact:
Christopher Ostrowski, costrowski@arbor.com
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