TODAY’S DEALS: Arbor Closes 3 Fannie Mae DUS Loans Totaling $52.9M, and Other Transactions

By Anuradha Kher, Online News EditorGreensboro and Fayetteville, N.C., Lexington, S.C.–Arbor Commercial Funding, LLC recently completed funding of three loans totaling $52.9 million under the Fannie Mae DUS product line. These loans include:Battleground North Apartments in Greensboro, N.C. a 288-unit complex in the amount of $16.2 million funded under the Fannie Mae DUS product line. The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.24 percent.Eagle Point Village, Fayetteville, N.C., a 300-unit complex in the amount of $18.7 million funded under the Fannie Mae DUS product line. The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.24 percent. Cedarcrest Village, Lexington, S.C., a 300-unit complex in the amount of $18 million funded under the Fannie Mae DUS product line. The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.15 percent. Love Funding Secures Over $1M for Financing, Acquisition of 40-Unit CommunityIndependence, Mo.–Love Funding has secured $1,107,400 in financing for the acquisition of Maple Manor Apartments, a 40-unit multifamily housing complex in Independence, Mo. Love Funding secured a financing for the borrower, Prominent Properties LLC, through HUD’s 223(f) loan program and locked in a 6.40 percent fixed interest rate with a 30-year amortization. The 38,490-sq.-ft. Maple Manor Apartments is a 100 percent subsidized rental property and is located on 1.6 acres. “Diversifying from our successful single-family investment model, Prominent Properties investigated larger scale investments in multifamily real estate, and Love Funding provided us with the expertise we needed to take that big step,” says Brock Thomas, managing member of Prominent Properties LLC.