TODAY’S DEALS: Arbor Closes Four Fannie Mae DUS Loans Totaling $6,623,800, and Other Transactions
- Feb 24, 2009
By Anuradha Kher, Online News Editor Uniondale, N.Y.–Arbor Commercial Funding LLC recently completed funding of four loans totaling $6,623,800 under the Fannie Mae DUS product line. The loans include:$1.6 million under the Fannie Mae DUS product line for Amber Square (pictured), a 64-unit community located in San Antonio. The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.11 percent. $1,339,800 under the Fannie Mae DUS product line for the Pebble Beach Apartments, a 61-unit complex located in Universal City, Texas. The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.11 percent. $1,500,000 under the Fannie Mae DUS Small Loan product line for South Park Apartments, a 56-unit rental community in Baton Rouge, La. The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.33 percent. $2,184,000 under the Fannie Mae DUS Small Loan product line for Treetops Apartments, a 120-unit complex in Broken Arrow, Okla. The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.83 percent.Gebroe-Hammer Closes Two Multifamily Transactions Totaling Over $3MPhiladelphia–Gebroe-Hammer Associates has closed two multifamily apartment transactions totaling $3.1 million for 57 units in Philadelphia. Marsden Apartments sold for $1.85 million and Palmar Apartments sold for $1.25 million. The Marsden Apartment complex, located at 8532-52 Marsden St., features 32 two-bedroom units. Rents in the area range from $650 to $700 for a two-bedroom unit. At the time of sale, Marsden Apartments was 95 percent occupied.Located at 5926 Bustleton Ave. in Northeast Philadelphia, the 25-unit Palmar Apartment community features a brick façade and a mix of one-, two- and three-bedroom layouts. The property was 95 percent occupied at the time of sale.Meridian Capital Arranges Financing of Over $3M for 45-Unit CommunityReseda, Calif.–Meridian Capital Group recently arranged financing in the amount of $3,375,000 for a two-story multifamily apartment building featuring 45 residential units located at 6905 Etiwanda Ave. in Reseda, Calif.Meridian’s Los Angeles office negotiated on behalf of Capital Foresight LP to secure a rate of 5.75 percent for a five-year term.