Arbor Closes 8 Fannie Mae Deals in California Totaling $36.7M

Uniondale, NY (Aug. 25, 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 eight loans totaling $36,715,800 under the Fannie Mae DUS® Loan and Fannie Mae DUS® Small Loan product lines throughout California. These loans include:

Marine Terrace Apartments, Gardena, CA (top left photo) – This 145-unit complex received $8,750,000 funded under the Fannie Mae DUS® Standard Loan product line. The 10-year acquisition loan amortizes on a 30-year schedule.

Casa Monroe Apartments, Indio, CA (top right photo) – This 226-unit complex received $7,800,000 funded under the Fannie Mae DUS® Standard Loan product line. The 10-year refinance loan amortizes on a 30-year schedule.

Island Breeze Apartments, Gardena, CA (middle left photo) – This 104-unit complex received $6,386,000 funded under the Fannie Mae DUS® Standard Loan product line. The 10-year acquisition loan amortizes on a 30-year schedule.

 Lake Park Apartments, Oakland, CA (lower right photo) – This 67-unit complex received $3,800,000 funded under the Fannie Mae DUS® Small Loan product line. The 10-year refinance loan amortizes on a 30-year schedule.

8745 Cedros Avenue Apartments, Panorama City, CA – This 16-unit complex received $3,500,000 funded under the Fannie Mae DUS® Small Loan product line. This 10-year refinance loan amortizes on a 30-year schedule.

Carlotta Park Apartments, Los Angeles, CA – This 43-unit complex received $2,636,400 funded under the Fannie Mae DUS® Small Loan product line. The 10-year refinance loan amortizes on a 30-year schedule.

 Regency Park Apartments, Los Angeles, CA – This 40-unit complex received $2,345,400 funded under the Fannie Mae DUS® Small Loan product line. The 10-year refinance loan amortizes on a 30-year schedule.

901 Mariposa Apartments, Los Angeles, CA – This 26-unit complex received $1,498,000 funded under the Fannie Mae DUS® Small Loan product line. The 10-year refinance loan amortizes on a 30-year schedule.

 All of the loans were originated by Greg Gillam, Director, in Arbor’s full-service Manhattan Beach, CA, office.

 “These transactions illustrate Fannie Mae’s continued focus on providing financing for well-maintained apartment properties in California that provide rental housing at affordable market rents,” Gillam said.

Contact:  Christopher Ostrowski, costrowski@arbor.com