UNIONDALE, NY–Arbor Commercial Funding—a wholly-owned subsidiary of Arbor Commercial Mortgage and a national, direct commercial real estate lender—has announced the recent funding of 20 loans totaling over $67 million under a variety of product lines, including the Fannie Mae Delegated Underwriting & Servicing Loan, Fannie Mae DUS Small Loan, Fannie Mae DUS Military Loan and Arbor Realty Trust Bridge product lines.
All of the loans were originated by Alexander Kaushansky, VP in Arbor's New York office. “In today's market, flexibility and customization are key components of each multifamily loan, as exemplified by this diverse assortment of loans closed across numerous markets within the eastern U.S.,” he says. “Borrowers who obtain not only the great financing terms they are seeking, but overall deal customization from the right lenders will position themselves and their properties in optimal financial positions.”
The loans include the following multifamily properties and terms:
Harbor Pines Apartments, Saint Marys, GA: 200 units, $7.8 million under the Fannie Mae DUS Military Loan product line. The 10-year acquisition loan amortizes on a 30-year schedule.
Frontier Apartments, Roanoke, VA: 182 units, $7.3 million funded under the Fannie Mae DUS Loan product line. The 10-year acquisition loan amortizes on a 30-year schedule.
Courtyard Park Apartments, Hyattsville, MD: 94 units, $6.1 million under the Fannie Mae DUS Loan product line. The seven-year acquisition loan amortizes on a 30-year schedule.
A 288-unit portfolio in Charlotte, NC and Dallas: $7.7 million under the Arbor Realty Trust Bridge Loan product line. The one-year loan was a refinancing.
Anderson Springs, Austin, TX: 325 units, $5.2 million under Fannie Mae DUS Loan product line. The seven-year, eight-month supplemental loan amortizes on a 30-year schedule.
Another Charlotte property: 240 units, received $4.2 million under the Arbor Realty Trust Bridge Loan product line. The one-year loan was for a new acquisition.
Winterwood Apartments, Columbus, OH: 134 units, $3 million from Fannie Mae DUS Loan product line. The 10-year refinance loan amortizes on a 30-year schedule.
Beechwood Park Apartments, Vicksburg, MS: 100-unit property. $2.3 millio funded under the Fannie Mae DUS Small Loan product line. The 15-year acquisition loan amortizes on a 15-year schedule.
Apartments at 45th and Eads, Washington, DC: This 40-unit multifamily property received $1 million funded under the Fannie Mae DUS Loan product line. The 10-year refinance loan amortizes on a 30-year schedule.
370 Central Ave., Brooklyn, NY: Five unit property received $825,000 under the Fannie Mae DUS Small Loan product line. The seven-year refinance loan amortizes on a 30-year schedule.
18th Avenue Apartments, Newark, NJ: Nine units, $750,000, Fannie Mae DUS Small Loan. The 10-year acquisition loan amortizes on a 30-year schedule.
Dauphine Apartments, Mobile, AL: 168 units, $5.5 million; Fannie Mae DUS Loan product line. The 10-year acquisition loan amortizes on a 30-year schedule.
Twin Oaks Apartments, Mobile, AL: 112 units, $3.6 million, Fannie Mae DUS Loan. The 10-year acquisition loan amortizes on a 30-year schedule.
The remaiing properties, all located in Florida, are:
Woodside Villas, Fort Myers: 70-unit multifamily property received $2 million, Fannie Mae DUS Small Loan. The 10-year acquisition loan amortizes on a 30-year schedule.
Georgia Pine Townhomes, West Palm Beach: 24 units, $1.9 million, Fannie Mae DUS Small Loan. The 10-year refinance loan amortizes on a 30-year schedule.
Sunshine Garden Apartments, Pembroke Pines: 34 units, $1.9 million, Fannie Mae DUS Small Loan. The 10-year acquisition loan amortizes on a 30-year schedule.
Palm Villas, Fort Myers: 64 units, $1.8 million, Fannie Mae DUS Small Loan. The 10-year acquisition loan amortizes on a 30-year schedule.
Monvil Apartments, Lake Worth: 32 units, $1.7 million, Fannie Mae DUS Loan. The 10-year refinance loan amortizes on a 30-year schedule.
Parkside Villas, Fort Myers: 54 units, $1.6 million, Fannie Mae DUS Small Loan. The 10-year acquisition loan amortizes on a 30-year schedule.
Hemingway at Stuart, Stuart: 32 units, $1.3 million, Fannie Mae DUS Small Loan. The 10-year acquisition loan amortizes on a 30-year schedule.
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Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
