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| Michael Jehle |
UNIONDALE, NY (March 19, 2013) - 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 seven loans totaling $27,265,500 across Iowa, Wisconsin and Michigan under
the Fannie Mae Delegated Underwriting & Servicing (DUS®) Loan, Fannie Mae
DUS® Small Loan, Fannie Mae DUS® Affordable Housing and Fannie Mae DUS®
Dedicated Student Housing product lines. These loans include:
· Stoney Creek Village Apartments,
Shelby Township, MI – This 240-unit multifamily property received $10,850,000
funded under the Fannie Mae DUS® Loan product line. The 10-year refinance loan
amortizes on a 30-year schedule. Stoney Creek is conveniently located only 30
miles outside north of Detroit.
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Stoney Creek Village
Apartments
Shelby Township, MI |
· Waterbury
Place Apartments and 787 Burcham Apartments, East Lansing, MI– This
50-unit multifamily property received $5,865,000 funded under the Fannie Mae
DUS® Dedicated Student Housing product line. The 10-year refinance loan
amortizes on a 30-year schedule. Both Waterbury Place and 787 Burcham are
occupied exclusively by students of Michigan State University.
· Aspen
Village Apartments, Holt, MI – This 40-unit multifamily property received
$4,500,000 funded under the Fannie Mae DUS® Loan product line. The 10-year
refinance loan amortizes on a 30-year schedule. Each apartment unit at Aspen
Village includes concrete patios or private wood-framed balconies.
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Tower Place Apartments
Hudson, WI |
· Tower
Place Apartments, Hudson, WI – This 32-unit multifamily property received
$2,450,500 funded under the Fannie Mae DUS® Small Loan product line. The
10-year refinance loan amortizes on a 30-year schedule. Tower Place is situated
in an area with a mix of multifamily, single-family and industrial properties
as well as schools, parks and good access to the major roadways and the greater
Minneapolis-St. Paul area.
· Maquoketa
Park, Maquoketa, IA – This 56-unit multifamily property received $1,185,000
funded under the Fannie Mae DUS® Affordable Housing Loan product line. The
10-year refinance loan amortizes on a 25-year schedule. Common amenities at
Maquoketa Park include multiple playground areas, a basketball court and
laundry facilities.
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Vinton Park Apartments
Vinton, IA |
· Vinton
Park, Vinton, IA – This 72-unit multifamily property received $1,537,500
funded under the Fannie Mae DUS® Affordable Housing Loan product line. The
10-year refinance loan amortizes on a 25-year schedule. Common amenities at
Vinton Park include multiple playground areas, a basketball court and laundry
facilities.
· Strawberry
Hill, Anamosa, IA – This 40-unit multifamily property received $877,500
funded under the Fannie Mae DUS® Affordable Housing Loan product line. The
10-year refinance loan amortizes on a 25-year schedule. Common amenities at
Strawberry Hill include a playground area, a basketball court and a laundry
facility.
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Strawberry Hill Apartments
Anamosa, IA |
All of the loans
were originated by Mike Jehle, Midwest Regional Director in Arbor’s
Bloomfield Hills, MI, office.
“Arbor prides itself on providing creative and diverse
solutions to meet and exceed the specific needs and expectations of its
customers,” Jehle said.
“This group of
loans, located throughout the Midwestern United States, is evidence of not only
Arbor’s market-leading presence, but ability to uniquely customize financial
solutions wherever our clients do business.”
For a complete copy of the company’s news release, please
contact:
Christopher Ostrowski
