Renowned direct lender Arbor Commercial Mortgage, LLC [“Arbor”] recently announced the closing of $200,315,900 in loans for properties across five Southern and Midwestern states, including Texas, Arkansas, Tennessee, Alabama and Ohio.
The loans were procured through Fannie Mae Delegated Underwriting & Servicing (DUS®) Loan, Fannie Mae DUS® Multifamily Affordable Housing, Fannie Mae DUS® Small Loan, CMBS and Arbor Realty Trust’s Bridge and Mezzanine programs.
2015 has already been a significant year for Arbor, as it was just recently named one of Freddie Mac’s Senior Housing Lenders and acquired its Fannie Mae Seniors Housing DUS® license to accompany its established FHA and bridge seniors housing and healthcare offerings.
The impressive list of loans Arbor funded in each state with the descriptions and breakdowns of each one is as follows:
Alabama Properties
- Lake Forest Apartments, Daphne, AL – 128-unit multifamily property received $4,762,500 funded under the Fannie Mae DUS Loan product line. The seven-year refinance loan amortizes on a 36-year schedule.
Arkansas Properties
- Springdale Apartments, Springdale, AR – 102-unit multifamily property received $2,300,000 funded under the Fannie Mae DUS Small Loan product line. The 10-year acquisition loan amortizes on a 30-year schedule.
- Crutcher Apartments, Springdale, AR– 97-unit multifamily property received $2,156,000 funded under the Fannie Mae DUS Small Loan product line. The 10-year acquisition loan amortizes on a 30-year schedule.
- Powell Apartments, Springdale, AR – 52-unit multifamily property received $900,000 funded under the Fannie Mae DUS Small Loan product line. The 10-year acquisition loan amortizes on a 30-year schedule.
Ohio Properties
- Multifamily Property, Canton, OH – Multifamily property received $3,955,500 funded under the Fannie Mae Affordable Housing product line. The seven-year refinance loan amortizes on a 30-year schedule.
Tennessee Properties
- Avery Park Apartments, Memphis, TN – This 231-unit multifamily property received $4,870,900 funded under the Fannie Mae DUS Loan product line. The 10-year refinance loan amortizes on a 30-year schedule, and was used to retire an Arbor Bridge loan.
Texas Properties
- Stafford Oaks Apartments, Stafford, TX – 175-until multifamily property received $11,000,000 funded under the Fannie Mae DUS product line. The 10-year refinance loan amortizes over a 30-year schedule.
- Clear Lake Falls, Webster, TX – 90-unit multifamily property received $4,836,000 funded under the Freddie Mac Small Balance Loan product line. The seven-year refinance loan amortizes on a 30-year schedule.
- Fox Bend Apartments, Garland, TX – 100-unit multifamily property received $4,000,000 funded under the Fannie Mae DUS Small Loan product line. The 10-year refinance loan amortizes on a 30-year schedule.
- Pioneer House and Executive Apartments, Irving, TX – 146-unit multifamily property received $3,830,000 funded under the Fannie Mae DUS Loan product line. The 10-year acquisition loan amortizes on a 30-year schedule.
- Multifamily Property, Houston, TX – Multifamily property received $47,000,000 funded under the CMBS Loan product line, as well as $3,000,000 funded under the Arbor Realty Trust Mezzanine Loan product line for refinance. Both are co-term, 10-year loans.
- Santa Barbara Apartments, Houston, TX – 176-unit multifamily property received $2,580,000 funded under the Fannie Mae Affordable Housing product line. The 10-year acquisition loan amortizes on a 30-year schedule.
- Southside Village Apartments, Brownwood, TX – 104-unit multifamily property received $1,850,000 funded under the Fannie Mae DUS Small Loan product line. The seven-year acquisition loan amortizes on a 30-year schedule.
- Ashford Pointe, Houston, TX – 224-unit multifamily property received $1,800,000 funded under the Fannie Mae DUS Supplemental Loan product line. The seven-year loan amortizes on a 30-year schedule.
- Alexander Lane Apartments, Euless, TX – 39-unit multifamily property received $1,525,000 funded under the Fannie Mae DUS Small Loan product line. The 12-year refinance loan amortizes on a 30-year schedule.
- Bayou Villa Apartments, La Porte, TX – 56-unit multifamily property received $1,475,000 funded under the Fannie Mae DUS Small Loan product line. The 10-year acquisition loan amortizes on a 30-year schedule.
- Multifamily Property, Irving, TX – 450-plus-unit multifamily property received $23,380,000 for acquisition rehab funded under the Arbor Realty Trust Bridge Loan product line.
- Multifamily Property, Houston, TX – Multifamily property received $22,995,000 funded under the Fannie Mae DUS Loan product line. The seven-year refinance loan amortizes on a 30-year schedule, and was used to retire a $16,500,000 Arbor Realty Trust Bridge Loan.
- Multifamily Property, Houston, TX – Multifamily property received $29,700,000 for acquisition rehab funded under the Arbor Realty Trust Bridge Loan product line.
- Multifamily Property, Galveston, TX – Multifamily property received $15,900,000 for acquisition rehab funded under the Arbor Realty Trust Bridge Loan product line.
- Multifamily Property, Bryan, TX – 248-unit multifamily property received $6,500,000 for acquisition rehab funded under the Arbor Realty Trust Bridge Loan product line.
Arbor Commercial Mortgage, LLC also manages Arbor Realty Trust, Inc., a real estate investment trust, (REIT), formed to invest in mortgage-related securities, real estate-related bridge, junior participating interests in first mortgages, mezzanine loans, preferred and direct equity investments and in limited cases, discounted mortgage notes and other real estate related assets.
For more information about Arbor, visit www.arbor.com.
