Uniondale, NY (Oct. 27, 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 nine loans totaling $31,478,900 under the Fannie Mae DUS® Loan, Fannie Mae DUS® Small Loan and Fannie Mae DUS® Military Housing product lines across all U.S. regions.
These loans include:
Park Trails Apartments, Wauconda, IL (top left photo) – This 84-unit complex received $4,350,000 funded under the Fannie Mae DUS® Small Loan product line. The 10-year refinance loan amortizes on a 30-year schedule.
Stave and Francis Apartments, Chicago, IL (top right photo) – This 21-unit complex received $1,000,000 funded under the Fannie Mae DUS® Loan product line. The 10-year refinance loan amortizes on a 30-year schedule.
East Village Apartments, New York, NY (middle left photo) – This 49-unit complex received $3,850,000 funded under the Fannie Mae DUS® Small Loan product line. The five-year refinance loan amortizes on a 30-year schedule.
Holland House Apartments, Utica, NY (middle right photo) – This 47-unit complex received $1,300,000 funded under the Fannie Mae DUS® Small Loan product line. The 10-year refinance loan amortizes on a 30-year schedule.
Bentwood Apartments, Lubbock, TX (lower left photo) – This 216-unit complex received $6,700,000 funded under the Fannie Mae DUS® Loan product line. The 10-year acquisition loan amortizes on a 30-year schedule.
Horizon Park Apartments, Nashville, TN – This 222-unit complex received $6,500,000 funded under the Fannie Mae DUS® product line. The 10-year refinance loan amortizes on a 30-year schedule.
Charleston Place Apartments, Jacksonville, NC – This 120-unit complex received $6,275,000 funded under the Fannie Mae DUS® Military Housing (83% concentration) product line. The 10-year refinance loan amortizes on a 30-year schedule.
Palms Patio, San Diego, CA – This 32-unit complex received $2,300,000 funded under the Fannie Mae DUS® Small Loan product line. The 10-year refinance loan amortizes on a 30-year schedule.
·9th Avenue Apartments, Greeley, CO – This 40-unit complex received $1,503,900 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 Stephen York (bottom right photo), Director, in Arbor’s full-service New York City office.
“With all but one of these transactions refinances, we continue to see especially strong refinance demand and opportunity for borrowers in the market as interest rates continue to remain at historic lows,” York said. “These deals also demonstrate Arbor’s unique ability to finance all types of multifamily properties within every region of the U.S., regardless of loan size, which is a claim that many other competing lenders cannot make.”
Contact: Christopher Ostrowski, costrowski@arbor.com
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