Arbor Finances $76.5M in Texas and Midwest Multifamily Deals

Wimberly Park Apartments, Duncanville, TX

Anthony Tarter

UNIONDALE, NY  - 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 $76,479,999 across the Midwest under the Fannie Mae Delegated Underwriting & Servicing® (DUS®), Fannie Mae DUS Multifamily Affordable Housing and Fannie Mae DUS  Small Loan product lines. These loans include:

·      Wimberly Park Apartments, Duncanville, TX – This 440-unit multifamily property received $14,999,999 funded under the Fannie Mae DUS Loan product line. The 10-year refinance loan amortizes on a 30-year schedule. The property includes a 24-hour fitness center, a 24-hour business center, outdoor basketball courts, two laundry centers, three swimming pools and an on-site day care center.

Camelot Village Apartments, Mesquite, TX

·      Camelot Village, Mesquite, TX – This 512-unit multifamily property received $14,900,000 funded under the Fannie Mae DUS Loan product line. The 10-year refinance loan amortizes on a 30-year schedule. The complex includes a 24-hour fitness center, a 24-hour business center, a tennis court, an indoor and outdoor basketball court, a sand volleyball court, a soccer field, picnic areas with gazebos and grills, three pools and four laundry centers.

·      Ventana at Valwood, Farmers Branch, TX – This 265-unit multifamily property received $6,502,800 funded under the Fannie Mae DUS Loan product line. The 10-year acquisition loan amortizes on a 30-year schedule. The complex includes a common laundry area with several washers and dryers.

Ventana at Valwood Apartments
Farmers Branch, TX

·      Sayle Gardens, Greenville, TX – This 119-unit multifamily property received $3,175,000 funded under the Fannie Mae DUS Loan product line. The seven-year refinance loan amortizes on a 30-year schedule.  The property includes a swimming pool and laundry facility.  Select apartments also include a wood burning fireplace, washer/dryer connections and walk-in closets.

·      Mill Run Apartments, Dallas, TX – This 112-unit multifamily property received $2,960,000 funded under the Fannie Mae DUS Affordable Housing Loan product line. The 10-year acquisition loan amortizes on a 25-year schedule.  The property includes a swimming pool as well as a central laundry center.

Summit Plaza Apartments, Arlington, TX

·      Summit Plaza Apartments, Arlington, TX – This 17-unit multifamily property received $1,995,000 funded under the Fannie Mae DUS Small Loan product line. The 10-year refinance loan amortizes on a 30-year schedule. The complex offers a swimming pool as well as a laundry center in one of the two buildings on the property.

  

·      Lakeview Townhomes, Rowlett, TX – This 17-unit multifamily property received $1,995,000 funded under the Fannie Mae DUS Small Loan product line. The 10-year refinance loan amortizes on a 30-year schedule.  Each unit includes a washer/dryer as well as a garage space.

·      The Plaza Apartments, Austin, TX – This 41-unit multifamily property received $1,067,200 funded under the Fannie Mae DUS Small Loan product line. The 10-year refinance loan amortizes on a 30-year schedule.  The property includes a laundry facility containing five washers and six dryers.

Sayle Gardens Apartments, Greenville, TX

·      Brookwood Village Townhomes, Blue Springs, MO – This 200-unit multifamily property received $11,400,000 funded under the Fannie Mae DUS Loan product line. The 10-year refinance loan amortizes on a 30-year schedule. The property includes a community gazebo located in the center of a cul-de-sac.

·      Town Square Townhomes – This 57-unit multifamily property received $6,550,000 funded under the Fannie Mae DUS Loan product line. The 10-year refinance loan amortizes on a 30-year schedule.

·      Iron Ridge, Spearfish, SD – This 66-unit multifamily property received $5,110,000 funded under the Fannie Mae DUS Loan product line. The 10-year refinance loan amortizes on a 30-year schedule. The property includes a fitness room, laundry facilities, a swimming pool and a whirlpool spa.

Town Square Homes, Fargo, ND

·      Farmstead Estates, Moorhead, MN – This 48-unit multifamily property received $4,560,000 funded under the Fannie Mae DUS Loan product line. The 10-year refinance loan amortizes on a 30-year schedule. The complex includes a heated garage, a library, a TV room, a workout facility and large function rooms for tenants to gather,

·      Mission Manor Apartments – This 96-unit multifamily property received $2,030,000 funded under the Fannie Mae DUS Small Loan product line. The seven-year refinance loan amortizes on a 30-year schedule.

All of the loans were originated by Anthony Tarter, Vice President, in Arbor’s Dallas, TX, office.

Brookwood Village Townhomes
Blue Springs, MO

“While Arbor is a leading U.S. multifamily lender, striving to provide the necessary funding to all types of properties nationwide, within the heart of the country—from Texas up to Minnesota—our expertise is second to none, as demonstrated by these recent transactions,” Tarter said.

 “We worked hand in hand with these borrowers to ensure they received the terms as well as the personal service they not only deserved but have also come to expect from Arbor deal after deal.”

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

Christopher Ostrowski

costrowski@arbor.com