TODAY’S DEALS: Arbor Finances $128.9M in National Multifamily Deals

Arbor Commons & Pinney Brook, Ellington, Conn.

Uniondale, N.Y.—Arbor Commercial Funding has been active of late. The direct real estate lender has released details on 14 loans totaling $128.9 million under Fannie’s DUS program, Fannie’s DUS dedicated student housing loan program, CMBS loans and Arbor Realty Trust Loan Bridge product lines. All of the loans were originated by Joe Charneski, vice president in Arbor’s New York City office.

“Deal by deal, borrowers require a variety of different loan product types to fit their individual needs and investment strategies in today’s market, including both permanent and interim loans. Such was the case with these most recent funding transactions,” Charneski explains. “The transactions also took place across a vast array of markets nationwide. Being able to serve your borrowers wherever their business takes them is critical for a multifamily lender that prides itself on personalized and customized service.”

Transactions are detailed below:

• Shoreline Apartments, Tulsa, Okla. – This 464-unit multifamily property received $13.1 million funded under the Fannie Mae DUS Loan product line. The 10-year acquisition loan amortizes on a 30-year schedule.
• Parklane Apartments, Columbia, S.C. – This 288-unit multifamily property received $9.4 million funded under the Fannie Mae DUS Loan product line. The 10-year refinance loan amortizes on a 30-year schedule.
• Multifamily Property, Columbia, S.C. – This 259-unit multifamily property received $4.9 million funded under the Arbor Bridge Loan product line. The two-year loan was for a new acquisition.
• Multifamily Property, Columbia, S.C. – This 152-unit multifamily property received $2.7 million funded under the Arbor Realty Trust Bridge Loan product line. The two-year loan was for a new acquisition.
• Fairhaven Gardens, Concord, Mass. – This 42-unit multifamily property received $8.0 million funded under the Fannie Mae DUS Loan product line. The 12-year refinance loan amortizes on a 35-year schedule.
• Royale Apartments, Cranston, R.I. – This 75-unit multifamily property received $5.37 million funded under the Fannie Mae DUS Loan product line. The 10-year refinance loan amortizes on a 30-year schedule.
• Arbor Commons & Pinney Brook, Ellington, Conn. – This 63-unit multifamily property portfolio received $3.0 million funded under the Fannie Mae DUS Loan product line. The 10-year refinance loan amortizes on a 30-year schedule.
• The Lofts Apartments, Morgantown, W.V. – This 648-unit multifamily property, which serves West Virginia University, received $1.1 million funded under the Fannie Mae DUS Dedicate Student Supplement Loan product line. The eight-year, five-month supplemental loan amortizes on a 30-year schedule.
• Multifamily Portfolio, Austin, Texas – This 668-unit multifamily portfolio received $36.0 million funded under Arbor’s CMBS Loan product line. The five-year refinance loan amortizes on a 30-year schedule.
• Multifamily Property, Houston, Texas – This 439-unit multifamily property received $10.7 million funded under the Arbor Realty Trust Bridge Loan product line. The 30-month loan was for a new acquisition.
• Multifamily Property, Cary, N.C. – This 360-unit multifamily property received $19.3 million funded under the Arbor Realty Trust Bridge Loan product line. The three-year loan was for a new acquisition.
• Multifamily Property, Atlanta, Ga. – This 392-unit multifamily property received $10.0 million funded under the Arbor Realty Trust Bridge Loan product line. The two-year loan was for a new acquisition.
• Multifamily Property, East Point, Ga. – This 120-unit multifamily property received $1.3 million funded under the Arbor Realty Trust Bridge Loan product line. The one-year loan was for a new acquisition.
• Multifamily Property, Montgomery, Ala. – This 242-unit multifamily property received $4.0 million funded under the Arbor Realty Trust Bridge Loan product line. The two-year loan was for a new acquisition.

SVN Chicago Commercial completes 14-building, $2.3M apartment sale

Chicago—Jeff Baasch and Jared Conen, multifamily specialists at SVN Chicago Commercial, have completed the sale of a portfolio of 14 buildings, 34 units located in the Chicago neighborhoods of Englewood, Garfield Park, Washington Park and Woodlawn. Baasch and Conen represented the seller in the transaction. The buyer was from out of state.  The portfolio sold for $2.3 million. The seller acquired the properties in the portfolio out of foreclosure over the past few years, completed renovations, and stabilized the properties.

“We continue to see robust demand for multifamily properties. Apartment fundamentals remain strong with low occupancies, increasing rents and attractive financing options. The demand for multifamily properties exceeds the available apartment buildings currently on the market,” Baasch says.