Arbor Closes 6 Loans Totaling $34M in 6 States

Hidden Pointe Apartments in Stone Mountain, GA Gets $15M Fannie Mae DUS® Loan

UNIONDALE, NY-- Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $15,035,900 loan under the Fannie Mae DUS® product line to finance the 435-unit complex known as Hidden Pointe Apartments (top right photo) in Stone Mountain, GA.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.18 percent.

The loan was originated by Jay Porterfield, (top left photo) Vice President, in Arbor’s full-service Plano, TX lending office. “Arbor provided a loan to refinance this very attractive asset,” said Porterfield. “We are pleased to have had the opportunity to work with the Borrower on this transaction.”

Three DUS® Loans Totaling $13.2M Closed in 3 States

UNIONDALE, NY-– Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of three (3) loans totaling $13,200,000 under the Fannie Mae DUS® product line. These loans include:

Cumberland Green Co-op, St. Charles, IL – Refinance of a 204-unit complex in the amount of $8,000,000 under the Fannie Mae DUS® product line. The 30-year loan amortizes on a 30-year schedule and carries a note rate of 6.64 percent.

Loma Vista West Coop, Kansas City, MO - 286-unit complex in the amount of $3,700,000 under the Fannie Mae DUS® product line. The 30-year loan amortizes on a 30-year schedule and carries a note rate of 7.15 percent.

North Pointe Apartments, (middle right photo) East Lansing, MI – 69-unit complex in the amount of $1,500,000 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 6.23 percent.

The loans were originated by Michael Jehle, (middle left photo) Midwest Regional Director, in Arbor’s full-service Bloomfield Hills, MI lending office. “Out of these three transactions, two were new clients and one was a repeat client for Arbor,” said Jehle. “We were happy to utilize Fannie Mae to close these diverse deals with ease.”

Mountain Paradise Village in Las Vegas Receives $5.1M Fannie Mae DUS® Loan

UNIONDALE, NY– Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $5,100,000 loan under the Fannie Mae DUS® product line for the 72-unit complex known as Mountain Paradise Village in Las Vegas, NV.

The 7-year loan amortizes on a 30-year schedule and carries a note rate of 6.37 percent.

The loan was originated by Ronen Abergel, (middle right photo) Director, in Arbor’s full-service New York, NY lending office. “Mountain Paradise Village came to us as a non-contiguous, condo-conversion,” said Abergel. “Arbor’s DUS® execution of this deal illustrates our ability to finance multifamily deals anywhere in the country.”

Elm Street Apartments in Manchester, NH Obtains $1M Fannie Mae DUS® Small Loan

UNIONDALE, NY-- Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $1,002,800 loan under the Fannie Mae DUS® Small Balance Loan product line to finance the 6-unit complex known as Elm Street in Manchester, NH.

The 7-year loan amortizes on a 30-year schedule and carries a note rate of 6.15 percent.

The loan was originated by John Kelly, (bottom left photo) Vice President, in Arbor’s full-service Boston, MA lending office. “This transaction represents our commitment to continue to provide quality small balance loans in very challenging capital market environments,” said Kelly.

CONTACT:

Ingrid Principe, Arbor Commercial Mortgage, 333 Earle Ovington Blvd., Suite 900,
Uniondale, NY 11553, P: 516.506.4298, F: 516.542.2555, http://www.arbor.com/