Arbor Commercial Funding announced the funding of eight loans totaling $35,565,600 under a variety of financing products, including the Fannie Mae Delegated Underwriting & Servicing Loan, Fannie Mae DUS Small Loan, and Arbor Realty Trust Bridge product lines.
All of the loans were originated by Michael Zysman, director in Arbor’s New York City office.
“Multifamily investment activity is strong across the country, from tertiary to primary markets, and Arbor is uniquely positioned to provide superior financing for its borrowers through our nationwide lending platform,” Zysman said.
“Certainty of execution, competitive terms and a history of sub-45 day closings were critical to these transactions with repeat borrowers. Today’s acquisition environment is very competitive, sometimes requiring borrowers to put down a hard deposit at contract signing in order to win deals.”
The loans included $7.5 million for the Bella Vista Apartments, Gastonia, NC, a 250-unit multifamily property that received a Fannie Mae DUS Loan, and Wingate Place Apartments, in Charlotte, NC, a 196-unit property that received $5,060,000 funded under the Fannie Mae DUS Loan product line. The 10-year acquisition loan amortizes on a 30-year schedule.
