Arbor Funds $107.2M in Fannie Mae, Bridge & CMBS Deals Nationwide

Compass Landing Apartments, Newport, NC

Windsor Upon Stonecrest, Burlington, NC

UNIONDALE, NY (June 24, 2013) - Arbor Commercial Mortgage, LLC, a national, direct commercial real estate lender, announced the recent funding of 13 loans totaling $107,210,000 across the country under Arbor’s comprehensive array of loan programs, including the Fannie Mae Delegated Underwriting & Servicing (DUS®) Loan, Fannie Mae DUS® Military Housing, Fannie Mae DUS® Affordable Housing product lines, and Arbor’s Bridge and CMBS product lines. These loans include:

·         Multifamily Property, Greenville, NC – This 288-unit student housing property received $27,000,000 funded under the Arbor Bridge Loan product line. The refinance loan has a term of 24 months. The property serves East Carolina University students.

Flat Creek Apartments, Weaverville, NC

         Compass  Landing,  Newport,  NC  –  This  192-unit  multifamily  property  received $17,500,000 funded under the Fannie Mae DUS® Military product line. The 15-year refinance loan amortizes on a 30-year schedule. It is located less than three miles from entertainment, shopping, schools and places of employment and just under 11 miles from Cherry Point Air Station, one of the nation’s major Marine Corps Air Stations.

·         Windsor Upon Stonecrest, Burlington, NC – This 220-unit multifamily property received $12,500,000 funded under the Fannie Mae DUS® Loan product line. The 15- year refinance loan amortizes on a 30-year schedule. Amenities include a swimming pool with a waterfall, a hot tub, a playground, detached garages, storage units, a car wash, a barbeque area, a tanning salon and open surface parking spaces.

Villas at Marlin Bay, Lake Wylie, NC

·         Multifamily Property, Fayetteville, NC – This 105-unit multifamily property received $9,500,000 funded under the Arbor CMBS product line.

·         Flat Creek, Weaverville, NC – This 50-unit multifamily property received $3,600,000 funded under the Fannie Mae DUS® Loan product line. The 10-year refinance loan amortizes on a 30-year schedule. Each unit features a washer/dryer hookup. Weaverville is located just minutes from downtown Asheville, NC.

·         Multifamily Property, Macomb, IL – This 152-unit student housing property received $18,500,000 funded under the Arbor CMBS product line.

Gilbert Clock Apartments, Winsted, CT

 ·         Villas at Marlin Bay, Lake Wylie, SC – This 168-unit multifamily property received $11,620,000 funded under the Fannie Mae DUS® Manufactured Housing Loan product line. The 10-year refinance loan amortizes on a 30-year schedule. The Villas at Marling Bay is within walking distance to many shops and restaurants. Amenities include a fitness center, laundry room, pool and playground.

·         Gilbert Clock Apartments, Winsted, CT – This 72-unit multifamily property received $2,700,000 funded under the Fannie Mae DUS® Loan product line. The 10-year refinance loan amortizes on a 30-year schedule.

Westbrook Park Apartments, Seymour, CT

·         Westbrook Park Apartments, Seymour, CT – This 37-unit multifamily property received $1,750,000 funded under the Fannie Mae DUS® Loan product line. The 10-year refinance loan amortizes on a 30-year schedule. Westbrook is a garden-style apartment offering a common washer/dryer area as well as tenant storage.

·         Hunter Oaks Apartments, Clinton, MS – This 144-unit multifamily property received $2,700,000 funded under the Fannie Mae DUS® Loan product line. The 10-year refinance loan amortizes on a 30-year schedule. Hunter Oaks is a garden style apartment complex located in central Mississippi seven miles west of the capitol city of Jackson.

Hunter Oaks Apartments, Clinton, MS

·         County Green Apartments, Attleboro, MA – This 36-unit multifamily property received $2,140,000 funded under the Fannie Mae DUS® Loan product line. The 10-year refinance loan amortizes on a 30-year schedule.

·         77 Green Street, Lynn, MA – This 27-unit multifamily property, an addition to the Lynn Portfolio closed in 2012, received $1,400,000 funded under the Fannie Mae DUS® Loan product line. The 10-year refinance loan amortizes on a 30-year schedule. The Lynn Portfolio is centrally located only nine miles north of Boston.

County Green Apartments, Attleboro, MA

·         28-30 Franklin Street Apartments, Lynn, MA – This 24-unit multifamily property, an addition to the Lynn Portfolio closed in 2012, received $1,250,000 funded under the Fannie Mae DUS® Loan product line. The 10-year refinance loan amortizes on a 30-year schedule.

·         Taylor Lofts Apartments, South Boston, VA – This 47-unit multifamily property received $1,200,000 funded under the Fannie Mae DUS® Affordable Housing Loan product line. The 15-year refinance loan amortizes on a 30-year schedule. The property includes amenities such as an onsite fitness center, a central laundry facility and on-site parking.  Taylor Lofts Apartments is within close proximity to Downtown South Boston.South Boston, VA, is located approximately 5 miles north of the Virginia/North Carolina state line.

John Edwards

All of the loans were originated by John Edwards, Vice President in Arbor’s Boston, MA, office. “Arbor provides an expansive array of commercial lending products to suit the needs of any client in any market, as is evidenced by this listing of transactions.” Edwards said. “Arbor has made sure it is there for its clientele in a variety of ways and we see that as we continue to expand our lending platforms as we did with CMBS.”

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

Christopher Ostrowski, costrowski@arbor.com