Arbor Commercial Funding, LLC announced the recent funding of eight loans totaling $37,476,500 under the Fannie Mae Delegated Underwriting & Servicing (DUS®) Loan, Fannie Mae DUS Small Loan, Fannie Mae DUS Supplemental, and Fannie Mae DUS ARM 7/6™ product lines.
All of the loans were originated by Greg Gillam, vice president in Arbor’s Manhattan Beach, CA office.
“The multifamily market’s fundamentals from California to Texas continue to improve, enabling investors to obtain attractive financing for their properties through multi-faceted lenders such as Arbor, which offers uniquely diverse and flexible loan products,” Gillam said.
“With this most recent group of deals in particular, we noticed a decided increase in acquisition activity as investors continue to increase their appetite for multifamily assets.”
The loans include: $15.159 million for Riverton of the High Desert in Victorville, CA. The seven-year acquisition loan amortizes on a 30-year schedule
La Quinta Springs Apartments, Indio, CA, an 80-unit multifamily property received $6,120,000 funded under the Fannie Mae DUS Loan product line.
The 10-year acquisition loan amortizes on a 30-year schedule. Residents have access to an outdoor swimming pool, a spa, a dog park, outdoor parking and a gated entry.
And Vista Del Sol, in Pleasanton, CA, received $5,450,000 funded under the Fannie Mae DUS Loan product line. The seven-year refinance loan amortizes on a 30-year schedule. The property includes a fitness center for residents.
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