HFF arranges $17.03 million participating mortgage for transit-oriented multi-housing development in suburban Denver, CO

Rendering of planned Lofts at Lincoln Station, Lone Tree, CO

Josh Simon

DENVER, CO – HFF announced it has arranged a $17.03 million participating mortgage for the ground-up development of Lofts at Lincoln Station, a Class A, 101-unit, luxury transit-oriented multi-housing project in Lone Tree, Colorado.

               HFF worked exclusively on behalf of Griffis Blessing and Niebur Development to secure the seven-year, interest-only, fixed-rate loan through Principal Real Estate Investors. 

               The Lofts at Lincoln Station will be situated on a 1.5-acre site at 9365 Station Street adjacent to the Lincoln Station light rail stop and across the street from Kaiser Permanente’s brand new specialty medical campus. 

The property has access to abundant shopping, dining and entertainment options and is also close to Interstate 25, which is the main north/south thoroughfare through Denver and the Front Range. 

Due for completion in 2015, the property will feature junior one-, one- and two-bedroom units averaging 787 square feet each.

Pat Burger

 Property amenities will include a 131-space parking garage, business center, fitness center, spectacular water feature and outdoor kitchen with a built-in BBQ area, and a courtyard with a fire pit. 

               The HFF team representing the borrower was led by director Josh Simon, director Pat Burger and real estate analyst Leon McBroom.

               “This is one of the very few true transit-oriented developments in the Denver metro area given its location steps from the Lincoln Station light rail platform,” said Simon.  “As such, interest level was extremely high on both the debt and equity sides and we were able to find the developer the best of both worlds with this 89 percent of cost participating loan.”

               “Griffis Blessing and Niebur Development are entering a market with very strong metrics that support the project,” said McBroom.

“The Lone Tree market just welcomed a new Kaiser campus, Sky Ridge Medical Center is adding beds, and the market will soon be home to a new Charles Schwab campus. 

Leon McBroom

“This market activity along with the continued economic growth of the Lone Tree market will continue to add to the renter demand that Griffis Blessing and Niebur Development are well positioned to capitalize on.”   

               Griffis/Blessing, Inc. is a real estate services firm representing individual, corporate and institutional owners of real estate throughout the United States. The firm offers clients comprehensive real estate asset management services, with a primary focus on property management and investment services.  Headquartered in Colorado Springs, Colorado, with an additional office in Denver, Griffis/Blessing has over 4,000,000 square feet of office, retail, and industrial space and more than 6,900 apartment units under management.

20 years ago, Joe Niebur, principal of the nationally recognized golf course construction firm Niebur Golf Inc., established Niebur Development, Inc. to focus on the development of commercial, residential and multi-family markets across the United States.  Niebur Development has developed or is currently developing 380 multi-family units and has another 365 units in the development pipeline.

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

Kristen M. Murphy

Associate Director

HFF | One Post Office Square, Suite 3500 | Boston, MA 02109

Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

krmurphy@hfflp.com

ARA’s New England Brokerage Team Joins Institutional Property Advisors (IPA)

BOSTON, MA – Institutional Property Advisors (IPA), a division of Marcus & Millichap, Inc. specializing in serving institutional and major private investors, is pleased to announce the addition of IPA Boston to its national platform, according to Brian T. Murdy, IPA’s national director.

Industry veteran Richard P. Robinson and his team of investment professionals, the former New England team of Apartment Realty Advisors (ARA), will lead IPA Boston as executive director.

            “Richard and his team bring a dynamic combination of brokerage and advisory service experience and long-standing relationships with many of the industry’s most prominent institutional investors,” says Murdy. “We’re very excited for this great addition and expanded ability to service clients in the New England region.”

Hessam Nadji

            IPA Boston features a team of six advisors and support professionals. Joining Robinson are IPA associate directors Philip Lamere, Jennifer Athas, and Brendan Reilly, financial analyst James Chang, and marketing coordinator Kaitlyn Fox.

            “The deep experience level of IPA teams around the country, Marcus & Millichap’s commitment to the IPA platform, and dominance in the private investor market will greatly enhance our ability to service clients and grow our team,” says Robinson. “It’s a very collaborative and supportive culture and we are looking forward to being a part of it,” he added.

            Established in 2003, ARA New England has advised institutional and major private multifamily investors on the sale of more than 18,600 units valued at more than $2 billion. Robinson’s prior experience includes 24 years as a broker serving both institutional and major private investors.

            “Our growth strategy is driven by adding professionals who share our commitment to client service, collaboration and value-added brokerage,” says Hessam Nadji, Marcus & Millichap’s chief strategy officer who oversees the firm’s national specialty groups including IPA. “Richard and his team set a high standard of professionalism and client results and we are proud to have them as part of our organization.”

Gene Berman

IPA’s expansion into New England is an important part of Marcus & Millichap’s overall growth strategy throughout the East Coast. “As a continuation of our East Coast growth plan, we recently opened our Boston office, which now has 16 investment sales and financing professionals and counting,” says Gene Berman, executive vice president responsible for overseeing offices throughout the East Coast and Texas. “Having Richard and his team on board will further strengthen our local and regional presence.”

            IPA is one of the country’s leading providers of institutional-quality commercial real estate investment services, including portfolio and property-level analyses, capital market solutions, research, acquisition sourcing and property sales. In 2013, the company closed over $3.3 billion in multifamily sales valued at $25 million and above.

  

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

Gina Relva

Public Relations Manager

(925) 953-1716

Chatham Lodging Trust Announces Update to First Quarter Earnings Call to be Held May 9

  

Jeffrey H. Fisher

 PALM BEACH, FL —Chatham Lodging Trust (NYSE: CLDT), a hotel real estate investment trust (REIT) focused on investing in upscale extended-stay hotels and premium-branded select-service hotels, announced it has rescheduled its first quarter 2014 earnings conference call due to a scheduling conflict. 

The company will report first quarter 2014 financial results on Friday, May 9, 2014, at 8 a.m. ET.  On the same day at 11:00 a.m. ET, Jeffrey H. Fisher, Chatham’s chief executive officer, and Dennis M. Craven, its chief financial officer, will host a conference call to review first quarter 2014 financial results.

Dennis M. Craven

Shareholders and other interested parties may listen to a simultaneous webcast of the conference call on the Internet by logging onto Chatham’s Web site, www.chathamlodgingtrust.com, or www.streetevents.com, or may participate in the conference call by dialing 1-877-941-0844 reference number 4681158.

 A recording of the call will be available by telephone until midnight on Friday, May  16, 2014, by dialing 1-800-406-7325, reference number 4681158.  A replay of the conference call will be posted on Chatham’s website.

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

Patrick Daly

Account Supervisor

Daly Gray, Inc.

patrick@dalygray.com

Office:  (703) 435-6293

Cell:  (703) 300-8289

Hold-Thyssen Negotiates Three New Leases with Private Counseling Practices at Albors Building in Winter Park, FL

Darby Hold

WINTER PARK, FL --- Hold-Thyssen Real Estate Services, recently negotiated three new lease agreements with three private counseling practices for executive office suites in the Albors Building at 5971 Brick Ct.,Winter Park. 

 Darby Hold, lease consultant for Hold-Thyssen, Inc. negotiated all three transactions on behalf of the local landlord, Albors Properties.   The three new tenants are:

Integrative Counseling & Wellness, LLC,            

KOI Counseling, LLC, and

Noetic Art Therapy & Counseling, LLC.

 Other major tenants in the building, which is now 65 percent leased, include Albors & Alnet Languages and Transportation and the Wayne Leland CPA firm.

 Hold-Thyssen, Inc. provides commercial property and leasing and management services to institutional and private investor clients nationwide.  The 40-year old firm’s current portfolio includes more that 100 commercial properties throughout the United States.

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

Larry Vershel or Beth Payan, Larry Vershel Communications Inc. 407-644-4142 Lvershelco@aol.com

HFF closes sale of Colorado Club Apartments in East Houston, TX

Colorado Club Apartments, 794 Normandy Street, East Houston, TX

Todd Marix

HOUSTON, TX – HFF announced today that it has closed the sale of Colorado Club Apartments, a 300-unit multi-housing community in East Houston, Texas.

               HFF marketed the property on behalf of the seller, Capital Equity Group.  White Oak Partners, LLC purchased the asset for an undisclosed amount free and clear of debt.

               Colorado Club is situated on 10 acres at 794 Normandy Street two miles north of the Houston Ship Channel and Port of Houston, and 9.7 miles east of downtown Houston. 

The property is 98 percent leased with units averaging 753 square feet each.  Community amenities include a resort-style swimming pool, fitness center and playground.

               The HFF investment sales team representing the seller was led by director Chris Curry, senior managing directors Todd Marix and Todd Stewart and director Tre Banks.

Todd Stewart

               “Colorado Club Apartments has an ideal location in a strengthening submarket of Houston that has no new supply coming online,” said Curry.

 “Over the next three years, $35 billion will be invested into the Port of Houston, ultimately creating more than 250,000 jobs and increasing demand for housing.”

               Capital Equity Group, Inc, is a private real estate investment firm headquartered in Cleveland, Ohio.  The firm is involved in all aspects of real estate ownership from acquisition analysis and capital formation to property management and disposition.

White Oak Partners of Columbus, Ohio is a leading privately held sponsor of national, multi-family real estate investments.

 White Oak Partners acquires, owns and manages a portfolio of apartment communities and is actively pursuing multi-family investment opportunities across the U.S., with a particular focus in the southeast and southwest. 

Tre Banks

The management team at White Oak Partners averages over 25 years of experience in acquiring, developing and managing over $14 billion of real estate in their careers, including over 140,000 multi-family units.

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

Kristen M. Murphy

Associate Director

HFF | One Post Office Square, Suite 3500 | Boston, MA 02109

Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 |

 www.hfflp.com

krmurphy@hfflp.com

RealtyTrac® Reports U.S. Home Flipping Down to 3.7 Percent of all Sales in First Quarter but Average Gross Returns Increase to 30 Percent

Daren Blomquist

IRVINE, CA, May 1, 2014 — RealtyTrac® (www.realtytrac.com), the nation’s leading source for comprehensive housing data, today released its Q1 2014 U.S. Home Flipping Report, which shows 3.7 percent of all U.S. single family home sales were flips — where a home is purchased and subsequently sold again within six months — in the first quarter of 2014, down from 4.1 percent in the fourth quarter of 2013 and down from 6.5 percent in the first quarter of 2013.

The average sales price of single family homes flipped in the first quarter was $55,574 higher than the average original purchase price. That gross profit provided flippers with an unadjusted ROI (return on investment) of 30 percent of the average original purchase price. The average gross profit per flip a year ago was $51,805 for an unadjusted ROI of 28 percent.

“Slowing home price appreciation early this year in many of the most popular flipping markets put some investors in danger of flying too close to the sun,” said Daren Blomquist, vice president at RealtyTrac.

“But investors appear to have recalibrated their flipping strategy, accounting for the slower home price appreciation even if that means fewer flips.

" This is another good sign that this housing recovery is behaving much more rationally than the last housing boom, which was built largely on unfounded speculation rather than fact-based calculations.”

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

Jennifer von Pohlmann

949.502.8300949.502.8300, ext. 139

jennifer.vonpohlmann@realtytrac.com

RECI Reports Low-Yielding Treasuries Helped by Global Market Tensions

Jeanne Peck

Chicago, IL, May 1, 2014 - Global market tensions help maintain low yielding treasuries.  At the same time, real estate investors are more optimistic about the income-property sector due to a slowly improving

economy. 

 Real estate pricing climbs to record levels as driven by

insatiable demand and low cost debt.  Market highlights summarizing the first quarter of the year along with forward looking trends are as follows: 

Development Trends:

*         "You have to be dense not to understand density," indicating that high density and mixed-use vertical development is here to stay, no longer a
"smart growth" conversation.

*         "Urbanization of Suburbs" shows that long-ignored, older, infill suburban areas near public transportation desirable, as pricing differential
becoming more attractive vs. urban deals.

*         Increased construction and labor costs (e.g.,  15% in many
markets) creating as much as 100 basis point lower development yields, but
are compensated by lower mortgage and capitalization rates.

*         Land costs driving higher construction costs, peaking above
pre-recession levels keeping profits in check; however, financing sources
are also recognizing developer's marked up values during such holding
periods, creating more implied equity in construction budgets.

*         Parking ratios continue declining giving way to pedestrian
lifestyles, bicycles, zip cars and convenient public transportation.
Municipalities showing more flexibility with this component, helping to
drive down overall construction costs.

Property Types:

*         Development Yields:  Return-on-cost range of 5.5% for major-market
apartments; otherwise 6%-7% for other types of commercial properties. More
retail and industrial deals in the pipeline, but office still very sparse.

*         Apartments:  New construction concerns mitigated by job growth and
return to urban areas - cap rates moving down to  3% in some major markets
along the coasts; otherwise 4.5-5.5% for other major markets with another 50
to 100 basis points for secondary markets.

*         Retail:  About 12% of all retail sales are now on line; nearly no
new development plans for department stores; larger grocers reconfiguring
stores for smaller urban footprints, responding to more independent and
local operators.  The most fluid property type that's overbuilt (suburban),
yet in great demand (urban infill).  Tech companies are "humanizing" their
products with stores (e.g., Apple, Tesla).

*         Industrial:  National vacancy levels well below ten percent,
encouraging more new construction especially given shorter development
cycles and in selective markets, spec projects are acceptable.

*         Office:  Excellent yield plays during the past couple of years,
but longer-term ownership is a more cautious concern do to tenant's demand
for more efficient space.

*         Hotel: Interest rate volatility and near peak pricing.

"Everyone seems to be scrambling for certain yield opportunities. Many
institutional investors are re-introducing themselves to new construction
funding strategies for capturing core and core plus investment plays.  Pro
forma underwriting is commonplace again," according to Jeanne Peck of the
Real Estate Capital Institute.

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

Jeanne Peck

Executive Director:

director@reci.com

www.reci.com

Trepp Reports US CMBS Delinquency Rate Improves Despite Drop in Loan Resolutions

Manus Clancy

(New York – May 1, 2014) – Trepp, LLC, the leading provider of information, analytics, and technology to the CMBS, commercial real estate, and banking markets, released its April 2014 US CMBS Delinquency Report today (available at www.trepp.com/knowledge/research).

April marks the 11th straight month of improvement in the delinquency rate for US commercial real estate loans in CMBS. 

The rate fell 10 basis points to 6.44% in April. Today’s reading is 259 basis points lower than where it was a year ago and 390 basis points below the all-time high from 2012.

“There was a fair amount of turbulence in the equity markets in April, but the CMBS market was a bastion of tranquility over the last 30 days,” said Manus Clancy, Senior Managing Director at Trepp.

“There were more winning days than losing ones for CMBS investors. Even when US stocks sold off, CMBS spreads held firm.

“Month-over-month, spreads were modestly tighter across the board and new issue pricing came in near its tightest levels of 2014 with CMBS 3.0 BBBs leading the pack. With US delinquencies continuing to move lower, there was a lot to cheer about for CMBS in April.”

For additional details, such as delinquency status and historical comparisons, request the April 2014 US CMBS Delinquency report at www.trepp.com/knowledge/research. For daily CMBS commentary, follow @TreppWire on Twitter.

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

Joe McBride, Research Analyst

Trepp LLC

joe_mcbride@trepp.com

212-754-1010

Eric Gerard, Lindsay Church

Great Ink Communications

eric@greatink.com / lindsay@greatink.com

212-741-2977

Lincoln Brokers Leases Totaling More than 118,400 Square Feet in Atlanta’s North Fulton Market

  

Hunter Henritze

ATLANTA, GA – Lincoln Property Company Southeast (Lincoln) has brokered office leases totaling 118,481 square feet in the North Fulton submarket of metro Atlanta.

Hunter Henritze and Michael Howell, vice presidents of office leasing for Lincoln, represented the landlords in the transactions.

 The details of the leases are as follows:

 • National Christian Foundation signed a long-term lease extension at 500 Northwinds, located at 11625 Rainwater Drive in Alpharetta, Ga., and expanded its space by 15,179 square feet to occupy a total of 51,000 square feet. Bill Leonard of Wm. Leonard & Co. represented the tenant.

• Pulte Homes extended its lease at One Northwinds, located at 2475 Northwinds Parkway in Alpharetta, and expanded its space by 7,091 square feet to occupy a total of 34,000 square feet. Jay Dowlen of CBRE represented the tenant.

• Jack Henry & Associates, a developer of data-processing systems for financial institutions, signed a new, long-term lease for 19,210 square feet at 400 Northwinds, located at 11605 Haynes Bridge Road in Alpharetta. Tim Fisher of Cresa Kansas City and Jason Jones of Cresa Atlanta represented the firm, which relocated from Roswell, Ga.

Michael Howell

• Snap Solutions signed a new lease for 14,271 square feet at Brookside Two, located at 3655 Brookside Parkway in Alpharetta. Ed Easterlin and Julian Brown, both of Transwestern, represented the company.

“The combination of new tenants to the submarket, the organic growth of existing tenants and the lack of new construction has created a tightening in the Alpharetta office market and an increase in rents.” Henritze said. “We anticipate the brisk activity to continue throughout the year ahead.”

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

   Stephen Ursery

The Wilbert Group

404-405-2354

sursery@thewilbertgroup.com

Cuhaci & Peterson awarded contract for new Gordon Food Service store in West Palm Beach, FL

Lonnie Peterson

ORLANDO, FL— Cuhaci & Peterson Architects, Engineers, Planners, based in Baldwin Park, was recently awarded a contract to design a new Gordon Food Service store in West Palm Beach.

Lonnie Peterson, chairman at Cuhaci & Peterson said the facility will offer 20,000 square feet of space.

Cuhaci & Peterson Architects is one of the nation’s leading designers of retail space with projects that total more than two million square feet annually.   The firm  designed two other Gordon Food Service facilities within the past year in Miami and Orlando.

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

Larry Vershel or Beth Payan, Larry Vershel Communications, Inc. 407-644-4142, lvershelco@aol.com

  

Franklin Street Arranges Sale of North Miami Apartment Community for $2.393 Million

  

Elliot Shainberg

           MIAMI, FL (May 1, 2014) — Franklin Street announces the sale of a 36-unit apartment building in North Miami, Fla. for $2.393 million, representing $115 per square foot.  The complex was 100 percent leased at the time of the sale.

The Continental West Apartments is located at 447 NE 125th St., North Miami 33161.

 Franklin Street’s Deme Mekras, Elliot Shainberg and David Reinke represented the seller and buyer, both local investors.

The seller, Continental West Apartments, LTD., recently renovated the property by adding a new roof, plumbing, electrical and putting in new floors and cabinetry in the units. 

The buyer, JC 125th Street, LLC/PTH 125th Street, LLC, plans on maintaining the property as a rental, according to Shainberg, senior director.

Deme Mekras

 “With the recent upgrades, this property stands out in a mostly older neighborhood,” said Shainberg. “That, combined with the fact that it is located very close to shopping and public transportation, made it very appealing to our buyer.”

Franklin Street is a family of real estate companies focused on delivering value-added solutions to meet the evolving needs of our clients. 

Through a collaborative philosophy of leveraging the resources, expertise, and experience of each of its divisions—Real Estate, Capital, Insurance and Management—Franklin Street offers unmatched value and optimal solutions for clients nationwide. 

For more information on Franklin Street, please see the company’s website at FranklinSt.com.

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

954-370-8999/954-330-1554

afierman@boardroompr.com

12650 Ingeuity Drive within University/Research Park, East Orlando, FL

Ronald J. Rogg

ORLANDO, FL – Ronald J. Rogg, executive vice president, CBRE Orlando, reports that CBRE, as exclusive agent, is pleased to offer 12650 Ingenuity Drive (the “Property”) for sale in East Orlando’s most established micro market, the University/Research Park.

This “Class A” investment opportunity should make your 2014 short-list of investment opportunities because it combines asset quality and location in a stable market with predictable cash flow.

The Property exudes quality with its two-story, 25 ft. high, glass atrium, spiraling, open staircase, on-site modern cafeteria, and high technology infrastructure which includes uninterrupted and redundant power, FM-200 dry fire suppression, advanced security and fire protection, and CAT5 cabling throughout.

The Property also includes land for future development.

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

Ronald J. Rogg, CCIM

Executive Vice President

+1 407 839 3194

ron.rogg@cbre.com

Maury L. Carter and Associates, Inc. Acquires Additional Western Beltway Interchange Land in Orange County, FL

Maury L. Carter (left) and son Daryl M. Carter

Orange County, FL– Daryl M. Carter, President of Maury L. Carter & Associates, Inc. represented the buyer in the acquisition of 29 acres that were added to their existing 45 acres at the Western Beltway/New Independence Parkway Interchange.

The purchase price for the 29 acres was $3,921,000 cash. The firm now controls 74 acres at the Western Beltway/New Independence Parkway Interchange in one of the fastest growing areas of Central Florida.

The 29 acres was acquired in two closings (10 acres and 19 acres). Daryl M. Carter, President of Maury L. Carter & Associates, Inc. represented the buyer in both transactions.

Buddy Brown of 828 Realty, LLC represented the seller of the 10 acre tract.

Since January of 2012, Maury L. Carter & Associates, Inc. has completed $94,118,131 in transactions on 12,378 acres of land.

Maury L. Carter & Associates, Inc. is an Orlando-based full service commercial real estate firm proficient in land and commercial real estate investments, asset management, brokerage, and development. The firm's officers combine more than 75 years experience in real estate investments and brokerage.

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

Kristin Fortier

Maury L. Carter & Associates, Inc.

3333 S. Orange Avenue, Suite 200

Orlando, Florida 32806

407-421-0586 (c)

407-422-3144 (o)

www.maurycarter.com

South Florida Shopping Center for Sale at $14.8 Million

  

Plaza del Mar, Fort Lauderdale, FL

FORT LAUDERDALE, FL – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced that it is the exclusive advisor presenting for sale Plaza Del Mar, a 32,079-square-foot shopping center in Fort Lauderdale.

Douglas K. Mandel

The listing price is $14.8 million. Douglas K. Mandel, a first vice president investments in Marcus & Millichap’s Fort Lauderdale office, is representing the seller.

            “Plaza Del Mar is ideally located along U.S. Route 1 in Fort Lauderdale,” says Mandel. “This offering is an excellent opportunity for an investor to acquire a top-quality asset in a high-barrier-to-entry market.”

            Constructed in 1984 and renovated in 2011, the center is currently 84 percent leased to a variety of local and national retailers and restaurants. Tenants include Lime Fresh Mexican Grill, Jimmy John’s, Joe’s Crab Shack, Sally Beauty Supply and MetroPCS.

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

Gina Relva

Public Relations Manager

(925) 953-1716

Arbor Funds $123.2M in Multifamily Deals Across Midwest, Southwest and Southeast

Matt Norman

UNIONDALE, NY (May 1, 2014) - 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 24 loans totaling $123,227,400 under Arbor’s Fannie Mae Delegated Underwriting & Servicing (DUS®) Loan, Fannie Mae DUS Small Loan, Fannie Mae DUS Affordable Housing, Fannie Mae DUS ARM 7-6™, Arbor CMBS and Arbor Realty Trust Bridge product lines.

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

 “As there are strong multifamily investment opportunities across the country, Arbor prides itself in providing local market expertise to its clients wherever their business takes them, as evidenced by this latest group of loans,” Norman said.

 “Equally important to offering geographic diversity is product diversity and these transactions required an expansive product approach that ranged from fixed- to adjustable-rate financing to affordable housing, bridge, CMBS and small loans.” 

·            Selma Alabama Portfolio, Selma, AL – This 172-unit multifamily portfolio received $4,590,000 funded under the Fannie Mae DUS Loan product line. The loan was a rate and term refinance that helped free up a construction line used for the original property acquisition and renovation. 

Selma, AL Portfolio, Selma, AL

·            Sutton Bridge Apartments, Rainbow City, AL – This 108-unit multifamily property received $3,400,000 funded under the Fannie Mae DUS Loan product line. The seven-year refinance loan amortizes on a 30-year schedule. The loan was a rate and term refinance that helped free up a construction line used for the original property acquisition and renovation.

  

·            Woodland Square Apartments, Mobile, AL – This 128-unit multifamily property received $3,290,000 funded under the Fannie Mae DUS Loan product line. The seven-year refinance loan amortizes on a 30-year schedule. The loan was a rate and term refinance that helped free up a construction line used for the original property acquisition and renovation.

Sutton Bridge Apartments, Rainbow City, AL

·            Multifamily Property, Ohio – This 416-unit multifamily property received $11,900,000 funded under the Fannie Mae DUS Affordable Housing ARM 7-6 Loan product line. The seven-year refinance loan amortizes on a 30-year schedule.  Arbor’s loan provided equity recapture for the client, providing funding for future acquisitions.

·            Multifamily Property, Ohio – This 176-unit multifamily property received $2,768,000 funded under the Fannie Mae DUS Affordable Housing ARM 7-6 Loan product line. The seven-year acquisition loan amortizes on a 30-year schedule. Arbor’s loan provided equity recapture for the client, providing funding for future acquisitions.

  

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

Christopher Ostrowski

costrowski@arbor.com