Arbor Finances $35.6M in Multifamily Deals from North Carolina to California

Michael Zysman

UNIONDALE, NY (Aug. 18, 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 $35,565,600 under a variety of financing products, including the Fannie Mae Delegated Underwriting & Servicing (DUS®) Loan, Fannie Mae DUS Small Loan, Fannie Mae DUS ARM 7-6™, Fannie Mae DUS Supplemental and  Arbor Realty Trust Bridge product lines.

 All of the loans were originated by Michael Zysman, Director in Arbor’s New York City office.

 “Multifamily investment activity is strong across the country, from tertiary to primary markets, and Arbor is uniquely positioned to provide superior financing for its borrowers through our nationwide lending platform,” Zysman said.

“Certainty of execution, competitive terms and a history of sub-45 day closings were critical to these transactions with repeat borrowers. Today’s acquisition environment is very competitive, sometimes requiring borrowers to put down a hard deposit at contract signing in order to win deals.

Bella Vista Apartments, Gastonia, NC

“ Because of their confidence in our loan products, many of our borrowers feel comfortable taking the execution risks required to acquire new properties in today’s environment.”

The loans include:

·      Bella Vista Apartments, Gastonia, NC – This 250-unit multifamily property received $7,500,000 funded under the Fannie Mae DUS Loan product line. The 10-year acquisition loan amortizes on a 30-year schedule. The complex includes a clubhouse, swimming pool, fitness center, playground, soccer court and business center for residents.

  

·      Wingate Place Apartments, Charlotte, NC – This 196-unit multifamily property received $5,060,000 funded under the Fannie Mae DUS Loan product line. The 10-year acquisition loan amortizes on a 30-year schedule. Residents of Wingate Place have access to laundry rooms in each building, a swimming pool with a sundeck, a playground, a picnic area with grills, a sand volleyball court, horseshoe pits and open surface parking.

Wingate Place Apartments, Charlotte, NC

·      The Highlands Apartments, Charlotte, NC – This 176-unit multifamily property received $4,950,000 funded under the Fannie Mae DUS Loan product line. The 10-year acquisition loan amortizes on a 30-year schedule. Property amenities include a clubhouse, swimming pool, playground and laundry center.

·      Hanover Landing Apartments, Charlotte, NC – This 192-unit multifamily property received $3,950,000 funded under the Fannie Mae DUS 7-Year ARM Loan product line. The seven-year acquisition loan amortizes on a 30-year schedule. The asset was acquired out of an REO. Amenities include a clubhouse, swimming pool, playground and four laundry centers.

·      Four Seasons Townhomes, Greensboro, NC – This 98-unit multifamily property received $2,250,000 funded under the Fannie Mae DUS Loan product line. The 10-year acquisition loan amortizes on a 30-year schedule. Amenities include a leasing office, swimming pool, BBQ area near the swimming pool, clubhouse, patio area for each unit, storage and washer/dryer hookups in each unit.

Four Seasons Townhomes, Greensboro, NC

·      Multifamily Property, Winston-Salem, NC – This 66-unit multifamily property received $2,025,000 funded under the Fannie Mae DUS Small Loan product line. The 10-year refinance loan amortizes on a 30-year schedule.

·      Multifamily Property, Winston-Salem, NC – This 48-unit multifamily property received $1,160,000 funded under the Fannie Mae DUS Small Loan product line. The 10-year refinance loan amortizes on a 30-year schedule.

·      Multifamily Property, Lexington, KY – This 252-unit multifamily property received $4,250,000 funded under the Arbor Realty Trust Bridge Loan product line. The two-year loan was used to finance an acquisition.

·      765 South Irolo Apartments, Los Angeles, CA – This 24-unit multifamily property received $1,812,600 funded under the Fannie Mae DUS ARM 7-6™ Loan product line. The seven-year acquisition loan amortizes on a 30-year schedule. The building has an elevator for residents as well as a central laundry room.

Multifamily Property, Winston-Salem, NC

·      601 Rampart Boulevard Apartments, Los Angeles, CA – This 56-unit multifamily property received $1,336,000 funded under the Fannie Mae DUS Supplemental Loan product line. The five-year and two-month loan amortizes on a 30-year schedule. Unit amenities include gas ranges with hoods and granite countertops. Property amenities include a laundry facility and storage units.

·      Ridgewood Apartments, Perrysburg, OH – This 48-unit multifamily property received $1,272,000 funded under the Fannie Mae DUS Small Loan product line. The 10-year acquisition loan amortizes on a 30-year schedule. Each unit in the complex includes a laundry/utility room and either a balcony or a patio.

For a complete copy of the company’s news release, please contact:

Christopher Ostrowski, costrowski@arbor.com