UNIONDALE, NY—Arbor Commercial Funding, LLC repots it has funded 14 multifamily loans totaling $128,872,739 under the Fannie Mae Delegated Underwriting & Servicing Loan, Fannie Mae DUS Dedicated Student Housing Loan, CMBS Loan, and Arbor Realty Trust Loan Bridge product lines.
The financing is for apartment properties located in the states of: Oklahoma, South Carolina, Massachusetts, Rhode Island, Connecticut, West Virginia, Texas, North Carolina, Georgia, and Alabama. Joe Charneski, vice president in Arbor's New York City office, originated all of the loans.
Among the 14 loans was a $13.09-million acquisition loan for the 464-unit Shoreline Apartments in Tulsa OK. The 10-year Fannie Mae DUS loan amortizes on a 30-year schedule. Arbor also financed under the Fannie Mae DUS product line a $9.4-million refinance loan for the 288-unit Parkland Apartments in Columbia, SC. Other reported deals include a $4.89-milllion acquisition loan for a 259-unit multifamily property in Columbia, SC; a $2.74-million acquisition loan for a 152-unit multifamily property in Columbia, SC; a $8.1-million refinance loan for the 42-unit Fairhaven Gardens apartment community in Concord, MA; and a $5.37-million refinance loan for the 75-unit Royale Apartments complex in Cranston, RI.
Other recent transactions included a $3-million refinance loan for the Arbor Commons and Pinney Brook communities in Ellington, CT; a $1.1-million loan for the 648-unit The Lofts Apartments property in Morgantown, WV; a $36-million refinance loan for a 668-unit multifamily portfolio in Austin, TX; a $10.7-million acquisition loan for a 439-unit multifamily property in Houston, TX; a $19.3-million acquisition loan for a 360-unit multifamily property in Carey, NC; loans of $10 million and $1.27 million for acquisition loans for multifamily properties in Atlanta and East Point, GA, respectively; and a $3.99-million acquisition loan for a 242-unit multifamily property in Montgomery, AL.
“Deal by deal, borrowers require a variety of different loan product types to fit their individual needs and investment strategies in today's market, including both permanent and interim loans. Such was the case with these most recent funding transactions,” Arbor Commercial's Charneski says. “The transactions also took place across a vast array of markets nationwide. Being able to serve your borrowers wherever their business takes them is critical for a multifamily lender that prides itself on personalized and customized service.”
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
