Uniondale, NY (Aug. 23, 2011) - 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 11 loans totaling $53,724,438 under the Fannie Mae DUS® Loan, Fannie Mae DUS® Small Loan, Fannie Mae DUS® Market Rate Co-op and Fannie Mae DUS® Limited Equity Co-op product lines from the Midwest to the West Coast.
These loans include:
Carriage Hill East, East Lansing, MI (top left photo)– This 143-unit complex received $5,000,000 funded under the Fannie Mae DUS® Loan product line. The 10-year acquisition loan amortizes on a 30-year schedule.
Appletree Apartments, Sparta, MI (top right photo) – This 143-unit complex received $2,250,000 funded under the Fannie Mae DUS® Small Loan product line. The 10-year refinance loan amortizes on a 30-year schedule.
Wood Mar Apartments, Lansing Township, MI (middle left photo) – This 86-unit complex received $1,760,000 funded under the Fannie Mae DUS® Loan product line. This 10-year loan amortizes on a 30-year schedule.
Colonial Square Cooperative, Ann Arbor MI (middle right photo)– This 427-unit complex received $1,750,000 funded under the Fannie Mae DUS® Market Rate Co-op product line. The 5-year loan amortizes on a 5-year schedule.
Tree Tops Apartments, Northville, MI (bottom left photo)– This 72-unit complex received $1,732,500 funded under the Fannie Mae DUS® Small Loan product line. The 10-year loan amortizes on a 30-year schedule.
Cloisters Apartments, Clawson, MI – This 49-unit complex received $1,595,000 funded under the Fannie Mae DUS® Standard Loan product line. The 10-year loan amortizes on a 30-year schedule.
Edgewood Court North, Birmingham, MI – This 30-unit complex received $1,127,500 funded under the Fannie Mae DUS® Standard Loan product line. The10-year loan amortizes on a 30-year schedule.
River Oaks Towne Houses Cooperative, Calumet City, IL – This 270-unit complex received $5,800,000 funded under the Fannie Mae DUS® Limited Equity Co-op product line. The 30-year loan amortizes on a 30-year schedule.
Erie Apartments, Chicago, IL – This 13-unit complex received $900,000 funded under the Fannie Mae DUS® Small Loan product line. The 10-year loan amortizes on a 30-year schedule.
Pine Tree Townhouses Cooperative, Lawrence, KS – This 160-unit complex received $2,527,238 funded under the Fannie Mae DUS® Limited Equity Co-op product line. The 10-year loan amortizes on a 30-year schedule.
La Pacifica Apartments, Moreno Valley, CA – This 360-unit complex received $27,000,000 funded under the Fannie Mae DUS® Standard Loan product line. The 10-year loan amortizes on a 30-year schedule.
Crescent Cove Apartments Phase II, Evans, CO – This 48-unit complex received $2,282,200 funded under the Fannie Mae DUS® Standard Loan product line. The 8.75-year loan amortizes on a 30-year schedule.
All of the loans were originated by Michael Jehle (bottom right photo), Midwest Regional Director in Arbor’s full-service Bloomfield Hills, MI, office.
“This group of loans represent Arbor’s unique ability to fund multifamily loans throughout the United States, including those areas hardest hit in the most recent recession, primarily Michigan and the Midwest,” Jehle said. “Arbor prides itself on providing creative solutions to meet and exceed the needs and expectations of its customers.”
Contact: Christopher Ostrowski, costrowski@arbor.com
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