Cohen Commercial Realty Signs Kumon Learning Center In New Lease Transaction in Boynton Beach, FL

Bryan S. Cohen

Boynton Beach, FL — Bryan Cohen, Allan Carlisle and Travis Langhorst of Cohen Commercial Realty, Inc. announced the signing of Kumon Learning Center to lease space at Boynton West Shopping Center.

Located on the northwest corner of Boynton Beach Boulevard and Military Trail, this center includes Bealls Department Store, Burlington Coat Factory, Einstein Bros. Bagels, Boston Market, SunTrust Bank and Pizza Hut.

 Cohen Commercial Realty, Inc., represents the Landlord, Kimco Realty Corporation, in this transaction.

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

Jamie Crocker

jamiecrocker@cohencommercial.com

HFF closes $11.15 million sale of 148-room Hilton Garden Inn near Tampa, FL

Hilton Garden Inn Tampa North, 13305 Tampa Oaks Boulevard, Temple Terrace, FL

Dan Peek

TAMPA, FL –  Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $11.15 million sale of the Hilton Garden Inn Tampa North hotel, a 148-key, limited-service hotel near the University of South Florida in Temple Terrace, Florida.  

HFF marketed the property on behalf of the seller.  Excel Group purchased the offering free and clear of debt. 

The Hilton Garden Inn Tampa North is located at 13305 Tampa Oaks Boulevard in Temple Terrace, a suburb 10 miles northeast of Tampa.

The hotel is three miles from the University of South Florida, six miles from Busch Gardens and has visibility from Interstate 75, one of Tampa’s main arteries, which is one block away.

 Completed in 2000 and renovated in 2013, the hotel features 6,458 square feet of meeting space, a fitness center, business center, outdoor pool and two dining choices, including the Great American Grill and the Pavilion Lounge.

The HFF investment sales team representing the seller was led by senior managing director and head of HFF’s hotel group Dan Peek, associate director Cyrus Vazifdar and real estate analyst Zach Nolan. 

Cyrus Vazifdar

“Tampa continues to be one of the fastest growing and most desirable hotel markets in the country, with significant institutional capital aggressively seeking opportunities,” Peek said.

 “The Hilton Garden Inn generated an overwhelming amount of interest, a testament to the long term outlook of the market.”

“This acquisition further marks the extension of our growth while adhering to a disciplined strategy of acquiring well-located, under-performing assets at a discounted basis,” added Shoham Amin, managing partner of Excel Group.

 “With this acquisition, our firm will have completed four acquisitions in Florida totaling $50 million in the first quarter of 2015.  We look forward to continuing this momentum throughout 2015 and expanding our partnership with HFF.”

Zach Nolan

During 2014, HFF’s Hotel Group closed more than $3.5 billion in hotel transactions across all capital markets involving more than 100 hotels and resorts.  

The firm is particularly active in Tampa Bay’s coastal region, where it has recently closed transactions on hotels including the Hilton Clearwater Beach, Sandpearl, Hyatt Clearwater Beach, Sheraton Sand Key and the Residence Inn Clearwater.

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

www.excelgp.com

HFF closes sale of 2-property Ace Self-Storage portfolio in Upstate New York

                              

Barbara Guffey

HOUSTON, TX  – Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of a two-property Ace Self Storage portfolio totaling 630 units and 95,878 rentable square feet in upstate New York.

HFF marketed the portfolio on behalf of the seller, Real Estate Technology.  World Class Capital Group, LLC purchased the assets as their first self storage acquisition into the New York market. 

The 94.8-percent-occupied portfolio is comprised of a 388-unit property located at 735 and 765 South Street in Newburgh and a 241-unit facility at 1594 Route 9G in Hyde Park, New York. 

Three buildings – two self-storage buildings and one warehouse leased to three commercial tenants – comprise the Newburgh property, which is located just south of Interstate 84 off of Exit 5B in a community on the Hudson River 60 miles north of New York City. 

The Hyde Park property includes eight buildings and a stand-alone management office.  The asset is situated between Partridge Hill Road and Deer Hill Road on Route 9G in a residential community located between New York City and Albany.  Additionally, the Hyde Park property has 12 RV parking spaces.

Ace Storage, Hyde Park, NY

  Both properties include climate and non-climate controlled units and on-site management.

  The buyer plans to expand the facilities to add additional units.  

The properties will be rebranded and managed by Great Value Storage, the firm’s wholly-owned storage management platform.

The HFF self storage team representing the seller was led by director Barbara Guffey.

“The portfolio appealed to the buyer since it was stabilized with a strong cash flow stream, and offered expansion opportunities at both locations,” Guffey said. 

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

www.wccapitalgroup.com

.

Dave Palumbo

Rome, GA. – Charles Hight Square welcomes its newest tenant, Miracle-Ear.

The 88,721-square-foot shopping center at 435 Turner McCall Blvd. NE, is located directly across from Floyd Medical Center. It is also home to the first and only Publix in Rome, GA.

Miracle-Ear services patients with hearing aids and has more than 1,200 locations across the country.

Crossman & Company’s Senior Associate Dave Palumbo worked with Jimmy Byars of Hardy Realty.

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

Sydnie Cobb

Crossman & Company

scobb@crossmanco.com

407.581.6261

Los Angeles Celebrates Grand Opening of Sage Park Affordable Apartments for Families

Cynthia A. Parker

LOS ANGELES, CA, April 23, 2015—BRIDGE Housing and its partners will mark the grand opening of Sage Park Apartments at a ribbon-cutting ceremony today at 12 noon. The event takes place at 1304 West 177th Street, Los Angeles.

“The Los Angeles area is one of the most expensive rental markets in the country, where people with moderate- and lower-wage jobs cannot afford a place to live,” said Cynthia A. Parker, President and CEO of BRIDGE Housing.

 “At Sage Park, we are thrilled to be part of transforming an underutilized site into new, affordable homes and community spaces.”

Sage Park features 90 affordable rental apartments for families on a 3.5-acre site on the north side of the Gardena High School campus. The property was developed through a partnership between nonprofit BRIDGE Housing, the Los Angeles Unified School District and the Los Angeles Housing and Community Investment Department.

Rents are set to be affordable to residents with annual incomes ranging from $16,541 to $49,800 for a four-person household (30-60% of Area Median Income). Monthly rents will range from $425 to $1,222 depending on factors such as income, household and apartment size.

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

Dustin Lawrence

310 854 8242

dtlawrence@webershandwick.com

1065 Midtown Announces Release of 52 Luxury Condominiums in Midtown Atlanta, GA

Christa Huffstickler

ATLANTA, GA (April 23, 2015) – 1065 Midtown announces the sale of its highly anticipated condominiums. The exclusive property, located in the heart of vibrant Midtown, boasts 52 homes with full-service amenities that provide a truly unique living environment.

1065 Midtown Condominiums, Midtown Atlanta, GA

“1065 Midtown’s unique design features, building amenities and the highly desirable location make it a true lifestyle destination,” says Christa Huffstickler, Vice President of Sales, NeoLuxe Realty Group, Atlanta Fine Homes Sotheby's International who is responsible for marketing the condos on behalf of TriBridge Residential.

 “Located just a short distance from Piedmont Park, the Atlanta BeltLine and some of the city’s finest dining and entertainment options, the property provides an unparalleled living experience.”

Situated on the top 11 floors of the AAA Four Diamond-rated Loews Atlanta Hotel, 1065 Midtown’s prime location, architectural detail and exclusive residential amenities are unmatched for those who are seeking fine style, luxury services and impeccable design.

Homes are immediately available for public showing and prices begin in the $600s. For more information, visit 1065midtown.com.

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

Liz Lapidus/Andi Hill

Liz Lapidus PR

 404-688-1466

liz@lizlapiduspr.com

andi@lizlapiduspr.com

Gvest Capital Expandis in Charlotte, NC

Kirk Broadbooks

Charlotte, NC – Gvest Capital, a closely-held real estate investment firm, is increasing the real estate expertise of its staff with three new additions:

* Kirk Broadbooks, Chief Financial Officer

* Robert Titus, Senior Vice President of Design and Construction

* Julia Pererva, Director Of Asset Management

“The new team members have the perfect mix of experience for Gvest Capital’s growth,” said the firm’s managing partner Ray Gee. “We already have townhome and apartment developments underway, with mixed-use, office, retail and single-family homes in the pipeline. Their experience – and potential – with large, high-value projects give us the skills and maturity we need for a wide variety of opportunities.”

 Kirk Broadbooks, Chief Financial Officer

Broadbooks is responsible for the firm’s financial accounting, reporting and risk management. He also serves on Gvest Capital’s Investment Committee. He has more than 20 years of wide-ranging finance and accounting experience in commercial and residential real estate. At Pappas Properties, he was the Corporate Controller. His responsibilities included more than $200 million in retail, office, mixed-use and multifamily developments. He previously worked as the Accounting Manager for Mountain Real Estate Capital, where he oversaw accounting for over $400 million of residential projects. He joined Gvest Capital in 2015.

Robert Titus

Robert Titus, Senior Vice President of Design and Construction

Titus manages Gvest Capital’s development, design and construction processes. His three decades of experience includes a wide range of commercial, residential and mixed-use projects including office, multifamily, retail/shopping centers and parking components. Titus was with Pappas Properties as a Senior Vice President of Construction. He was responsible for several mixed-use developments. They include Sharon Square, a $54.5 million project with a Whole Foods Market, 105,000 square foot SunTrust Office Building and 239 apartments; and the $185 million Metropolitan at Midtown, with a 10-story, 195,000 square foot “Class A” office tower, luxury condominiums, retail and restaurant space. He joined Gvest Capital in 2014.

Julia Pererva, Director of Asset Management

Pererva is responsible for managing company assets and on-site property personnel as well as overseeing the day-to-day activities of the company. Pererva works with all members of the team to design and implement strategies to optimize operations and revenue. She ensures that team members have the support and information they need to accomplish company objectives. Pererva joined Gvest Capital in 2015.

Julia Pererva

Gvest Capital, LLC, is a closely-held investment firm that focuses on the acquisition, development and asset management of commercial, multifamily and single-family residential real estate assets. Based in Charlotte, N.C., its leadership includes experienced veterans of the real estate and financial world. For more information, visit www.gvestcapital.com.

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

Terri Thornton, Terri@TerriThornton.com

404-932-4347  

Six/Ten signs The Mortgage Firm to Suites on Central office lease in Winter Haven, FL

Suites on Central Office Center, 347 West Central Avenue, Winter Haven, FL

Lynda Mattson

Winter Haven, FL — Six/Ten LLC has leased office space in its Suites on Central office center to The Mortgage Firm, one of the largest private lenders in Florida.

 With more than 22 branches around the state, the company relocated its Winter Haven branch to an executive office space at 347 W. Central Ave.

The Mortgage Firm assists clients with all stages of home buying and refinancing, including processing, underwriting and lending. The company’s Winter Haven loan officers Lynda Mattson and Barry Byrd are both East Polk County natives and bring more than 45 years of combined experience to the local real estate market.

“We've been in the Winter Haven market just over two years and wanted a central location to better suit our realtor partners and clients. It was a move that we knew would give our Winter Haven branch the opportunity to grow and flourish as that market continues to recover from the 2007-10 real estate meltdown,” said Robby Sampson, Branch Manager with The Mortgage Firm.

Angela Harwell

Suites on Central occupies the second floor of Central Park Square in downtown Winter Haven.

 The historic building, originally completed in 1914, has undergone complete updates to its plumbing, air conditioning, electrical and elevator systems.

 Suites ranging from approximately 200 square feet to 4,000 square feet are available now.

As part of the upgrade, Six/Ten is bringing its fiber-optic wiring directly to office computers from the company’s neighboring buildings that house Verizon and other high-speed Internet providers. 

The ultra-fast Internet connections are expected to appeal to established firms and start-ups, both of which are being accommodated through an innovative floor design.

“The Mortgage Firm and its offering of financial services is a perfect addition to the rebirth of our downtown area,” said Angela Harwell, CCIM and broker for Open Door Commercial Real Estate LLC. She represented the landlord, Six/Ten, LLC, but facilitated the transaction for both parties.

For leasing information about the retail and office space opportunities, please contact Angela Harwell at (863)528-6107 or aharwell@opendoorcre.com or

Chad Lennox at clennox@sixtenllc.com.

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

Michelle Friedman

BoardroomPR

407-973-8555

mfriedman@boardroompr.com

Passco Companies Expands Operations with New Office in Austin, TX and Addition of Key Industry Player Shelli Cusak

Shelli Cusack

AUSTIN, TX, (April 20, 2015) – Passco Companies, LLC, a nationally recognized market leader in the acquisition, development, and management of multi-family and commercial properties throughout the U.S., has announced the opening of a new office in Austin, Texas, and the addition of industry veteran Shelli Cusack as Director of Asset Management. 

 “As a national firm, we are actively investing in growth markets throughout the U.S.,” explained Jeff Olshan, Vice President of Asset Management at Passco Companies.  “Passco’s new presence in Austin will deepen our roots in the Southwest, providing our investors with additional expertise in this dynamic investment region.”

According to Olshan, the addition of Cusack is another strategic action that will also strengthen the firm’s core expertise on behalf of its partners and investors.

“Shelli’s leadership in the industry was confirmed when she developed a proprietary Audit and Assessment Program utilized by institutional clients such as General Electric, Trammel Crow’s Crow Holdings, and Passco Companies,” Olshan said.  

“By hiring her to work as a member of our firm, we will further streamline our acquisitions and due diligence processes.  She will also be integral in Passco’s ongoing research and analysis,” Olshan noted.

Jeff Olshan

Cusack will oversee the company’s Austin office, and will also be responsible for a portion of Passco’s multifamily portfolio encompassing more than 3,000 units in North Carolina, South Carolina, and Georgia. 

Within her 20 years of experience, Cusack has been responsible for the management of more than $1 billion in real estate assets. 

Her prior positions include increasingly senior management roles overseeing multifamily portfolios throughout the nation on behalf of Greystar Real Estate Partners, Alliance Residential, Pinnacle, and Aspen Heights.

Passco Companies’ new Austin office is located at 7000 N. Mopac Expressway, Suite 200, in Austin, Texas.

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

 Corynne Randel / Jenn Quader

Brower, Miller & Cole

(949) 955-7940

CRandel@browermillercole.com

       

SG Property Services Purchases Medical Office Portfolio in Metro Atlanta for $11.8 Million

Paul Shailendra

ATLANTA, GA— Atlanta-based SG Property Services has acquired a 60,000-square-foot portfolio comprising three Class A medical office buildings in metro Atlanta for a total of $11.8 million.

 The properties include Johns Creek Medical building in Johns Creek; Marble Mill Medical Center in Marietta; and Hospital Way in Stockbridge.

“These properties are strategically located and create an appealing environment for healthcare providers as all three Class A buildings are located immediately adjacent to hospital anchors and provide direct access and walkability,” said Paul Shailendra, president of SG Property Services.

 “In addition, we were able to identify tenants within the contract phase of the acquisition to bring the portfolio to more than 95 percent leased.”

SG Property Services plans to lease-up the remaining vacancies focusing on specialty healthcare providers. 

     

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

Savannah Duncan

The Wilbert Group

404-343-0870 (O) 404-901-4433 (C)

sduncan@thewilbertgroup.com

NAI Realvest negotiates sale of bank owned office building in Winter Garden, FL

Mitch Heidrich

WINTER GARDEN, FL – NAI Realvest recently closed the sale of the 2,850 square foot office building at 22 E. Story Rd. in Winter Garden for $185,000.  

NAI Realvest Principals Matt Cichocki and Kevin O’Connor and Associate Mitch Heidrich, negotiated the transaction representing Ocwen Loan Servicing and the seller U.S. Bank National Assn. of Houston.

West Orlando Custom Building LLC purchased the property to renovate and relocate their existing business there from Ocoee.   The buyer was represented by Irene Tsatiris of La Rosa Realty Executive Group. 

This was the seventh central Florida property that this NAI Realvest commercial team has sold for Ocwen Loan Servicing in the past 18 months.

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

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

Lincoln Property Co. and Oaktree Capital Management Purchase $58M Biltmore Commerce Center in Phoenix, AZ

Biltmore Commerce Center, 3200 East Camelback Road, Phoenix, AZ

PHOENIX, AZ – Office investment and management expert Lincoln Property Company (LPC) and funds managed by Oaktree Capital Management, L.P. (Oaktree) have completed the $58 million purchase of Biltmore Commerce Center, a Class A, institutional-quality office building located in the heart of Phoenix’s coveted Camelback Corridor.

David Krumwiede

The acquisition represents LPC’s second transaction in a partnership with Oaktree that has generated $102 million in metro Phoenix deal activity in a 60-day timeframe.

 These deals include the $58 million Biltmore Commerce Center acquisition and the $42.3 million, mid-February disposition of Camelback Square, a 174,917-square-foot, Class A office asset in Old Town Scottsdale.

 It also increases LPC’s Phoenix investment activity to more than $165 million in the last 60 days.

“Phoenix has the lifestyle, the labor and the commercial real estate to generate upside value, drive demand and respond to tenant needs at almost any point of the real estate cycle,” said Lincoln Property Company’s Executive Vice President David Krumwiede, who directed the Biltmore Commerce Center investment purchase.

“It’s an exciting dynamic to work in, particularly when you have a team that can see potential at any given point in the cycle, and use their investment, development and management skills to build on that potential. It leads to a lot of opportunity in many venues, including this latest, great portfolio addition.”

Alisa Timm

Cushman & Wakefield’s Chris Toci, Chad Littell, Jerry Noble, Pat Devine and Greg Mayer represented the property seller, a venture between DPC Development Company and Bridge Investment Group. LPC Director of Management Services Alisa Timm will direct the project’s property management strategy.

For leasing information on Biltmore Commerce Center or to discuss additional investment opportunities, please contact David Krumwiede or Amr Ceran at (602) 912-8888.

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

Stacey Hershauer

focusAZ

Marketing & Public Relations

(480) 600-0195

www.focusaz.com

Jonathan Mohraz Named Vice President of Acquisitions and Development for Loews Hotels & Resorts

Jonathan Mohraz

NEW YORK, NY – Loews Hotels & Resorts announces Jonathan Mohraz as Vice President, Acquisitions and Development.  Mohraz joins the Loews development team as part of the company’s goal to substantially add to its growing portfolio over the next several years.

  He will work to identify opportunities to acquire hotel properties in major gateway cities, as well as resort destinations for the three distinct brands; Loews Hotels & Resorts, Loews Regency and OE Collection.

“Jonathan joins Loews Hotels at an exciting time as we are experiencing significant growth,” said Michael Palmeri, Senior Vice President of Acquisitions and Development, Loews Hotels & Resorts.  “His experience in the gaming and lodging industry will be invaluable as we aggressively build our brands”

Mohraz comes to Loews Hotels & Resorts with extensive knowledge of the lodging industry, having most recently served as Vice President in the Investment Bank at J.P. Morgan, where he covered the Gaming & Lodging sector. 

Michael Palmeri

Prior to J.P. Morgan, Mohraz began his real estate financial career with Ernst & Young, working with hotel owners, managers and lenders during his six year tenure in the firm’s Global Fraud Investigations & Dispute Services practice.

He received his Master of Business Administration degree from The Tuck School of Business, Dartmouth College and has a Bachelor of Science degree from Georgetown University.  

Mohraz resides in Rye, NY with his wife and two young children.

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

W Financial Provides $8 Million Bridge Loan to Refinance Prime Development Site on Manhattan’s Third Avenue

Prime Development Site on Manhattan's Third Avenue between 44th and 45th Streets

NEW YORK, NY -- W Financial has provided an $8,000,000 bridge loan to refinance a prime development site located on Manhattan's Third Avenue between 44th and 45th Streets.

The site is currently improved by an 8,375 square foot, five-story, mixed-use building and has been approved for the development of a 35,624 square foot hotel and would also be suitable for various alternative uses.

David Heiden

 W's borrower is one of NYC's most active hotel developers. He acquired the site two years ago and has recently successfully negotiated the buyout of the last remaining tenant, thus unlocking the high-traffic site's highest and best use which is to be re-developed.

The existing building will eventually be demolished (only after our loan has been repaid).  W's loan includes both first mortgage and mezzanine loan positions and our collateral also includes a second property located in Old Westbury, NY.

Our borrower will likely sell the desirable site which is now finally ready for development and is currently listed for sale at $17,500,000.

W will also consider providing construction loans in Manhattan or Brooklyn for experienced developers, as well as mezzanine loans, preferred equity or joint venture equity on well-located, cash-flowing properties.

On select transactions W Financial is pricing its bridge loans as low as 8%, with terms as long as five years depending on the usual factors such as location, loan-to-value ratio, cash flow and quality of the sponsorship.

Gregg Winter

Click here to see recent bridge loans closed by W, and read our home page to get a better sense of which of your prospective loan scenarios might be in our "strike zone".

Call me to discuss or contact my partner David Heiden | david@w-financial.com

 (212) 684-8484, or contact our Senior Loan Officer Jarret Schochet | jarret@w-financial.com

 (212) 684-2205 to discuss your new bridge loan scenarios.

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

Gregg Winter - Founder & Managing Partner

W Financial Fund, LP

Special Situation Financing for Commercial Real Estate ®

149 Madison Avenue, Seventh floor

New York, NY 10016

Phone: 212 532-1122 x1

Email: gregg@w-financial.com

http://www.w-financial.com

recent news:

http://www.w-financial.com/articles.php

Arbor Funds $185M in Multifamily Deals in Texas and Other Markets

Anthony Tartar

UNIONDALE, NY (April 22, 2015) - Arbor Commercial Mortgage, LLC (“Arbor”), a national, direct commercial real estate lender, announced the recent funding of 19 loans totaling $184,801,400 across Texas, Minnesota, Virginia and Florida under the Fannie Mae Delegated Underwriting & Servicing (DUS®) Loan, Fannie Mae DUS® ARM 7-6™ and Fannie Mae DUS® Small Loan programs.

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

“As demonstrated by this collection of loans, Arbor is providing investors the personal service and customized loan products they need to take advantage of today’s strong multifamily market conditions,” Tarter said.

“Arbor has the nationwide expertise that’s required to meet borrower demands no matter where they do business, including such thriving multifamily markets as Texas, Minnesota, Virginia and Florida.”

·         Elmhurst Village, Oviedo, FL – This 313-unit multifamily property received $34,690,400 funded under the Fannie Mae DUS Loan product line. The 12-year acquisition loan amortizes on a 30-year schedule. Project amenities include a clubhouse/leasing office with a summer kitchen, a fitness center, a business center, a billiard room, a conference room, a picnic/BBQ area, a pool, a spa, a playground, a car care center and a gated entryway.

Elmhurst Village, Oviedo, FL

·         Kilburn Crossing, Fredericksburg, VA – This 220-unit multifamily property received $28,016,000 funded under the Fannie Mae DUS Loan product line. 

The 12-year acquisition loan amortizes on a 30-year schedule. 

Amenities include a clubhouse, a swimming pool with a waterfall and spa, barbeque areas, a business center, a tennis court, four covered pavilions, a dog park, a paved walking trail, a car wash area, a soccer field, volleyball and basketball courts, a fitness center and two playgrounds.

·         Carlisle on the Katy Trail Apartments, Dallas, TX – This 176-unit multifamily property received $12,510,500 funded under the Fannie Mae DUS Loan product line. The seven-year refinance loan amortizes on a 30-year schedule. Property amenities include two community swimming pools, three laundry facilities and a workout facility.

Kilburn Crossing, Fredericksburg, VA

·         Sun Park Apartments, San Antonio, TX – This 334-unit multifamily property received $12,338,000 funded under the Fannie Mae DUS ARM Loan product line. 

The seven-year acquisition loan amortizes on a 30-year schedule. 

Project amenities include a swimming pool, a fitness room, a small playground, a tennis court, a volleyball court and a basketball court.

·         St. Croix Apartments, Dallas, TX – This 228-unit multifamily property received $12,270,000 funded under the Fannie Mae DUS Loan product line. The 10-year refinance loan amortizes on a 30-year schedule.

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

Christopher Ostrowski

costrowski@arbor.com