The first property is Parkway Apartments, which was refinanced for $1.8 million as a 10-year loan. The second property is a 39-unit property, which was refinanced for $1.4 million also as a 10-year loan. Arbor's DUS 5-50 product is specifically for multifamily properties with five to 50 units because of its reduced costs and streamlined diligence process. It also offers access to Fannie Mae's multifamily loan rates to owners and developers of small apartment projects.
Arbor has lending offices in all areas of the country. These loans, which originated with a company vice president Paul Morehouse, were underwritten in the company's Boston office. Arbor currently services over $1.5 billion in loans.
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