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| Shafer Grace Apartments, Richmond, VA |
UNIONDALE, NY --Arbor Commercial Mortgage, LLC, a national,
direct commercial real estate lender, announced the funding of seven
FHA-insured multifamily loans totaling $49,607,900:
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| Hal Reinauer |
· Shafer
Grace, Richmond, VA – This 152-unit multifamily apartment complex received
a total of $22,039,000 funded under the FHA 221(d)(4) product line. The 40-year
new construction loan amortizes on a 40-year schedule. Planned amenities
include a fitness center; roof deck and clubhouse; high-speed Internet, cable
and phone service included in all rent; a washer and dryer in each unit;
central air conditioning; garage parking; and extra storage. The loan was
originated by Hal Reinauer, Director in Arbor’s Boston office.
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| Michael Jehle |
· Chesterfield
Gardens Apartments, Chester, VA – This 105-unit multifamily property
received $7,281,900 funded under the FHA 223(a)(7) product line. The 37-year
refinance loan amortizes on a 37-year schedule. The complex is a garden-style
property. Amenities include a
clubhouse, leasing office, 24-hour fitness center, swimming pool, tennis court
and playground. The loan was originated by Hal Reinauer, Director in
Arbor’s Boston office.
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| Phillip Gause |
· Capital
Villa Apartments, East Lansing, MI – This 172-unit multifamily apartment
complex received a total of $8,160,000 funded under the FHA 223(f) product
line. The 35-year refinance loan amortizes on a 35-year schedule. The complex
is within walking distance to Michigan State University and has a concentration
of students. Amenities include an outdoor pool, a fitness center, a computer
lab, indoor bike storage, Wi-Fi access, a common laundry facility, a private
study room and designated picnic areas with gas grills. The loan was originated
by Michael Jehle, Midwest Regional Director in Arbor’s Bloomfield Hills,
MI, office.
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| Joseph Donovan |
· Burnt
Tree Apartments, East Lansing, MI – This 96-unit multifamily property
received $3,750,000 funded under the FHA 223(f) product line. The 35-year
refinance loan amortizes on a 35-year schedule. The complex is a garden-style
property located within close proximity to Michigan State University. Amenities include common laundry rooms in
each building, on-site parking, a playground and a picnic area with a grill and
picnic table. The loan was originated by Michael Jehle, Midwest Regional
Director in Arbor’s Bloomfield Hills, MI, office.
· Country
View Apartments, Savage, MN – This 58-unit multifamily property received
$3,057,000 funded under the FHA 223(f) product line. The 30-year refinance loan
amortizes on a 30-year schedule. The complex is a garden-style property located
approximately 20 miles southwest of Minneapolis, MN. Amenities include a common
area laundry, a playground, a swimming pool and additional storage lockers. The
loan was originated by Phillip Gause, Director in Arbor’s Philadelphia,
PA, office.
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| Arbors at Evansville Apartments Evansville, IN |
· Arbors
at Evansville Apartments, Evansville, IN – This 150-unit multifamily
property received $2,960,000 funded under the FHA 223(f) product line. The
30-year refinance loan amortizes on a 30-year schedule. The complex provides either a balcony or
patio for all units and is approximately two hours from Louisville, KY.
· Arbors
at Red Bank Apartments, Evansville, IN – This 88-unit multifamily property
received a total of $2,360,000 funded under the FHA 223(f) product line. The
30-year refinance loan amortizes on a 30-year schedule. All units have a balcony or patio and the complex
includes on-site maintenance and a common laundry room.
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| Arbors at Red Banks Apartments Evansville, IN |
“As seen by our most recent group of funding transactions,
Arbor’s robust FHA financing platform has been able to deliver diverse loan
products to suit our borrowers’ unique needs throughout the country,” said Joseph
Donovan, Arbor’s Senior Vice President and Director of FHA Lending. “From
refinance to new construction, the FHA platform is consistently able to achieve
the financial goals multifamily borrowers seek in today’s strong market.”
For a complete copy of the company’s news release, please
contact:
Christopher Ostrowski
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