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| La Quinta Springs Apartments, Indio CA |
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| Greg Gillam |
UNIONDALE, NY (Feb. 10, 2014) - 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 eight loans totaling $37,476,500 under the Fannie Mae Delegated Underwriting & Servicing (DUS®) Loan, Fannie Mae
DUS Small Loan, Fannie
Mae DUS Supplemental, and Fannie
Mae DUS ARM 7/6™ product
lines.
All of the loans were originated by Greg Gillam, Vice President in Arbor’s Manhattan Beach, CA office.
“The multifamily
market’s fundamentals from California to Texas continue to improve, enabling
investors to obtain attractive financing for their properties through
multi-faceted lenders such as Arbor, which offers uniquely diverse and flexible
loan products,” Gillam said.
“With this most
recent group of deals in particular, we noticed a decided increase in
acquisition activity as investors continue to increase their appetite for
multifamily assets.”
The loans include:
 |
| Vista del Sol Apartments, Pleasanton, CA |
·
Riverton of the High Desert,
Victorville, CA – This 220-unit multifamily property received $15,159,000 funded under the Fannie Mae DUS ARM
7/6 Loan product line. The seven-year acquisition loan amortizes on a 30-year schedule.
The property includes an in-ground,
outdoor swimming pool; a whirlpool spa; and a children’s play area.
·
La Quinta Springs Apartments,
Indio, CA – This 80-unit multifamily property received $6,120,000 funded under the Fannie Mae DUS Loan product line. The 10-year acquisition loan amortizes on a 30-year schedule.
Residents have access to an outdoor swimming pool, a spa, a dog park,
outdoor parking and a gated entry.
,+Indio+CA.jpg) |
| Watercrest at the Polo Fields Apartments (Casa Monroe), Indio, CA |
·
Vista Del Sol, Pleasanton, CA – This 73-unit multifamily
property received $5,450,000
funded under the Fannie Mae DUS Loan product line. The seven-year refinance loan amortizes on a 30-year schedule.
The property includes a fitness center for residents.
·
Watercrest at the Polo Fields
(Casa Monroe), Indio, CA – This 226-unit multifamily property received
$3,000,000 funded under the Fannie Mae DUS Supplemental Loan product line. The
eight-year loan amortizes on a 30-year schedule. The complex includes two
swimming pools, two heated spas, central laundry facilities, a playground and
on-site parking.
 |
| Village Green Apartments, Bakersfield, CA |
·
The
Artesian Apartments, Bellflower, CA – This 26-unit multifamily property received $2,300,000 funded under the Fannie Mae DUS Small Loan product line. The
12-year refinance
loan amortizes on a 30-year schedule.
Residents have access to a laundry room that includes three coin operated
washers and four coin operated dryers.
·
Village Green Apartments, Bakersfield, CA – This 40-unit
property received $1,635,000
funded under the Fannie Mae DUS Small Loan product line. The
10-year refinance loan amortizes on a 30-year schedule. The property has gated access
and two laundry facilities in structures attached to carports. Each
laundry room contains two washers and two gas-fired dryers.
 |
| Parksvillas Apartments, Arlington, TX |
· Parksvillas
Apartments, Arlington, TX – This
103-unit multifamily property received $1,897,500
funded under the Fannie Mae DUS Small Loan product line. The 12-year refinance loan amortizes on a 30-year schedule.
The complex includes a swimming pool, fitness room and a central laundry
facility.
·
Silver Creek Apartments, Red Bank, TN – This 83-unit multifamily property received
$1,865,000 funded under the Fannie Mae DUS
Small Loan product line. The 10-year
acquisition loan amortizes on a
30-year
schedule.
Residents have access to laundry facilities, a swimming pool and a tennis
court.
For a
complete copy of the company’s news release, please contact:
Christopher Ostrowski
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