By Anuradha Kher, Online News EditorLas Vegas–Arbor Commercial Funding recently completed funding of two loans totaling $47,493,000 under the Fannie Mae DUS MBS product line. These loans include:• $23,500,000 for the La Villa Estates, a 336-unit rental community in Las Vegas. The loan was funded under the Fannie Mae DUS MBS product line. The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.46 percent. • $23,993,000 loan funded under the Fannie Mae DUS MBS product line for the 336-unit San Tropez Apartments also located in Las Vegas. The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.99 percent. Alliant Completes $8.5M Refinancing of 26-Unit Rental CommunityCopley Township, Ohio.–Alliant Capital LLC has completed the $8.5 million refinancing of Hunt Club Apartments, a 260-unit market rate apartment community in Copley Township, Ohio. “The Hunt Club Apartments are located in the Akron Metropolitan,” says John Marr, senior vice president of Alliant Capital’s Stamford office and originator of this transaction. “Because of weak economy in the Midwest, it is becoming increasingly difficult to finance multifamily properties in these areas. However, because our clients have an enduring history as multifamily owners and managers, Alliant Capital closed the ten-year loan at a low interest rate.” Hunt Club Apartments, built in 1987, is a garden-style community featuring one-bedroom, one-bathroom; two-bedroom, one-bathroom; and two-bedroom, two-bathroom apartments. During the last 11 years, the well-maintained property has undergone substantial capital improvements. The community has an occupancy rate of 91 percent.
TODAY’S DEALS: Arbor Closes Two Fannie Mae DUS MBS Loans Totaling Over $47, and Other Transactions
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