Arbor Commercial Funding has recently funded 20 loans totaling $67,538,200 under a variety of product lines, including the Fannie Mae Delegated Underwriting & Servicing (DUS®) 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, vice president 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.,” Kaushansky said.
“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.”
These loans include:
• 370 Central Avenue, Brooklyn, NY – This five-unit multifamily property received $825,000 funded 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 – This nine-unit multifamily property received $750,000 funded under the Fannie Mae DUS Small Loan product line. The 10-year acquisition loan amortizes on a 30-year schedule.
• Harbor Pines Apartments, Saint Marys, GA – This 200-unit multifamily property received $7,755,000 funded under the Fannie Mae DUS Military Loan product line. The 10-year acquisition loan amortizes on a 30-year schedule. The complex includes a community room, swimming pool, two playgrounds, one tennis court, one play court, picnic tables and one basketball court.
• Frontier Apartments, Roanoke, VA – This 182-unit multifamily property received $7,251,000 funded under the Fannie Mae DUS Loan product line. The 10-year acquisition loan amortizes on a 30-year schedule. The complex includes a swimming pool, a clubhouse, a laundry room in each building and courtyards.
• Courtyard Park Apartments, Hyattsville, MD – This 94-unit multifamily property received $6,135,000 funded under the Fannie Mae DUS Loan product line. The seven-year acquisition loan amortizes on a 30-year schedule. The residents have access to two laundry facilities, free storage area and dedicated bike storage area.
• Apartments at 45th and Eads, Washington, DC – This 40-unit multifamily property received $1,000,000 funded under the Fannie Mae DUS Loan product line. The 10-year refinance loan amortizes on a 30-year schedule.
• Dauphine Apartments, Mobile, AL – This 168-unit multifamily property received $5,500,000 funded under the Fannie Mae DUS Loan product line. The 10-year acquisition loan amortizes on a 30-year schedule. The property offers a swimming pool, a fitness center, a clubhouse, a laundry room and courtyards with picnic areas.
• Woodside Villas, Fort Myers, FL – This 70-unit multifamily property received $2,018,000 funded under the Fannie Mae DUS Small Loan product line. The 10-year acquisition loan amortizes on a 30-year schedule. The property offers an onsite laundry room.
