BLOOMFIELD HILLS, MI- Arbor Commercial Funding, LLC, a commercial real estate lender headquartered in Uniondale, NY, announced last week a series of loan transactions that will bolster the finances of multifamily properties in Michigan, Wisconsin and Iowa. The seven loans totaled $27,265,500 and came through a variety of Fannie Mae programs including 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.

All of the loans were originated by Mike Jehle, Midwest regional director in Arbor's Bloomfield Hills 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.”

The loans include:

• Stoney Creek Village Apartments, Shelby Township, MI–This 240-unit multifamily property located 30 miles north of Detroit received $10,850,000 through a Fannie Mae DUS^® Loan. This 10-year refinance amortizes on a 30-year schedule.
• Waterbury Place Apartments and 787 Burcham Apartments, East Lansing, MI–This 50-unit multifamily received $5,865,000 through a Fannie Mae DUS^® Dedicated Student Housing loan. The 10-year refinance loan amortizes on a 30-year schedule. Students of Michigan State University occupy both Waterbury Place and 787 Burcham exclusively.
• Aspen Village Apartments, Holt, MI– This 40-unit multifamily received $4,500,000 funded by a Fannie Mae DUS^® Loan. The 10-year refinance amortizes on a 30-year schedule. Each apartment unit at Aspen Village includes concrete patios or private wood-framed balconies.
• Tower Place Apartments, Hudson, WI–This 32-unit multifamily received$2,450,500 funded by a Fannie Mae DUS^® Small Loan. The 10-year refinance loan amortizes on a 30-year schedule. Tower Place sits 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.
• Maquoketa Park, Maquoketa, IA– This 56-unit multifamily received$1,185,000 funded by a Fannie Mae DUS^® Affordable Housing Loan. The 10-year refinance loan amortizes on a 25-year schedule. Amenities at Maquoketa Park include multiple playground areas, a basketball court and laundry facilities.
• Vinton Park, Vinton, IA – This 72-unit multifamily received$1,537,500 funded by a Fannie Mae DUS^® Affordable Housing Loan. The 10-year refinance loan amortizes on a 25-year schedule. Amenities include multiple playground areas, a basketball court and laundry facilities.
• Strawberry Hill, Anamosa, IA– This 40-unit multifamily received$877,500 funded by a Fannie Mae DUS^® Affordable Housing Loan. The 10-year refinance loan amortizes on a 25-year schedule. Amenities at Strawberry Hill include a playground area, a basketball court and a laundry facility.