Arbor Commercial Mortgage announced the recent funding of 17 loans totaling $67,903,000.
The loans funded deals across Oklahoma, North Carolina, Georgia, New York, Alabama, Florida, California and Texas and were made under Arbor’s Freddie Mac Small Balance Loan, Fannie Mae DUS®, Fannie Mae DUS® Multifamily Affordable Housing and Arbor Realty Trust Bridge programs.
Joe Charneski, Vice President in Arbor’s New York, NY, office originated each of the loans.
“As demonstrated by this collection of loans, Arbor is providing investors the personal service and customized loan products they need to take advantage of today’s strong seniors housing market conditions,” Charneski said.
“Arbor has the nationwide expertise that’s required to meet borrower demands no matter where they do business, including unique one-stop-shop bridge to permanent financing that satisfies investors short- and long-term financing needs.”
The loans included 2485 Elm Place, Bronx. This 26-unit multifamily property received $2,300,000 funded under the Freddie Mac Small Balance Loan product line. The seven-year acquisition loan amortizes on a 30-year schedule.
The company also provided a loan for 2408 & 2420 Webster Avenue, New York. This 16-unit multifamily property received $1,850,000 funded under the Freddie Mac Small Balance Loan product line.