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| Michael Zysman |
UNIONDALE, NY (Aug. 18, 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 eight loans totaling $35,565,600 under a variety of financing
products, including the Fannie Mae Delegated Underwriting & Servicing
(DUS®) Loan, Fannie Mae DUS Small Loan, Fannie Mae DUS ARM 7-6™, Fannie Mae DUS
Supplemental and Arbor Realty Trust
Bridge product lines.
All of the loans
were originated by Michael Zysman, Director in Arbor’s New York City
office.
“Multifamily
investment activity is strong across the country, from tertiary to primary
markets, and Arbor is uniquely positioned to provide superior financing for its
borrowers through our nationwide lending platform,” Zysman said.
“Certainty of execution, competitive terms and a history of
sub-45 day closings were critical to these transactions with repeat borrowers.
Today’s acquisition environment is very competitive, sometimes requiring
borrowers to put down a hard deposit at contract signing in order to win deals.
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| Bella Vista Apartments, Gastonia, NC |
“ Because of their confidence in our loan products, many of
our borrowers feel comfortable taking the execution risks required to acquire
new properties in today’s environment.”
The loans include:
· Bella Vista
Apartments, Gastonia, NC – This 250-unit multifamily property received
$7,500,000 funded under the Fannie Mae DUS Loan product line. The 10-year
acquisition loan amortizes on a 30-year schedule. The complex includes a
clubhouse, swimming pool, fitness center, playground, soccer court and business
center for residents.
· Wingate
Place Apartments, Charlotte, NC – This 196-unit multifamily property
received $5,060,000 funded under the Fannie Mae DUS Loan product line. The
10-year acquisition loan amortizes on a 30-year schedule. Residents of Wingate
Place have access to laundry rooms in each building, a swimming pool with a
sundeck, a playground, a picnic area with grills, a sand volleyball court,
horseshoe pits and open surface parking.
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| Wingate Place Apartments, Charlotte, NC |
· The
Highlands Apartments, Charlotte, NC – This 176-unit multifamily property
received $4,950,000 funded under the Fannie Mae DUS Loan product line. The
10-year acquisition loan amortizes on a 30-year schedule. Property amenities
include a clubhouse, swimming pool, playground and laundry center.
· Hanover
Landing Apartments, Charlotte, NC – This 192-unit multifamily property
received $3,950,000 funded under the Fannie Mae DUS 7-Year ARM Loan product
line. The seven-year acquisition loan amortizes on a 30-year schedule. The
asset was acquired out of an REO. Amenities include a clubhouse, swimming pool,
playground and four laundry centers.
· Four
Seasons Townhomes, Greensboro, NC – This 98-unit multifamily property
received $2,250,000 funded under the Fannie Mae DUS Loan product line. The
10-year acquisition loan amortizes on a 30-year schedule. Amenities include a
leasing office, swimming pool, BBQ area near the swimming pool, clubhouse,
patio area for each unit, storage and washer/dryer hookups in each unit.
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| Four Seasons Townhomes, Greensboro, NC |
· Multifamily
Property, Winston-Salem, NC – This 66-unit multifamily property received
$2,025,000 funded under the Fannie Mae DUS Small Loan product line. The 10-year
refinance loan amortizes on a 30-year schedule.
· Multifamily Property, Winston-Salem, NC
– This 48-unit multifamily property received $1,160,000 funded under the Fannie
Mae DUS Small Loan product line. The 10-year refinance loan amortizes on a
30-year schedule.
· Multifamily
Property, Lexington, KY – This 252-unit multifamily property received
$4,250,000 funded under the Arbor Realty Trust Bridge Loan product line. The
two-year loan was used to finance an acquisition.
· 765 South
Irolo Apartments, Los Angeles, CA – This 24-unit multifamily property
received $1,812,600 funded under the Fannie Mae DUS ARM 7-6™ Loan product line.
The seven-year acquisition loan amortizes on a 30-year schedule. The building
has an elevator for residents as well as a central laundry room.
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| Multifamily Property, Winston-Salem, NC |
· 601 Rampart
Boulevard Apartments, Los Angeles, CA – This 56-unit multifamily property
received $1,336,000 funded under the Fannie Mae DUS Supplemental Loan product
line. The five-year and two-month loan amortizes on a 30-year schedule. Unit
amenities include gas ranges with hoods and granite countertops. Property
amenities include a laundry facility and storage units.
· Ridgewood
Apartments, Perrysburg, OH – This 48-unit multifamily property received
$1,272,000 funded under the Fannie Mae DUS Small Loan product line. The 10-year
acquisition loan amortizes on a 30-year schedule. Each unit in the complex
includes a laundry/utility room and either a balcony or a patio.
For a complete copy of the company’s news release, please
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