Arbor Commercial Funding, LLC completed recent funding of eight loans totaling $31.222 million across California and New Mexico under the Fannie Mae DUS Loan, Fannie Mae DUS Small Loan, Fannie Mae DUS ARM 7-6 and Fannie Mae DUS Supplemental Loan product lines. These loans include:
* 1801-1825 Morton Ave.-This 66-unit multifamily property received $8.183 million funded under the Fannie Mae DUS Loan product line. The 10-year refinance loan amortizes on a 30-year schedule.
* 570 Knollview Court, Palmdale, CA-This 144-unit multifamily property received $9.024 million funded under the Fannie Mae DUS ARM 7-6 Loan product line. The seven-year acquisition loan amortizes on a 30-year schedule.
* Garden Estates Apartments, Ventura, CA-This 48-unit multifamily property received $3.7 million funded under the Fannie Mae DUS Small Loan product line. The 10-year refinance loan amortizes on a 30-year schedule.
* Madison at Green Valley Apartments, Henderson, NV-This 88-unit multifamily received $3.6 million funded under the Fannie Mae DUS Loan product line. The five-year refinance loan amortizes on a 30-year schedule.
* Woodcrest Apartments, Las Cruces, NM-This 96-unit multifamily property received $3 million funded under the Fannie Mae DUS Small Loan product line. The 10-year refinance loan amortizes on a 30-year schedule. The Woodcrest Apartments property is comprised of eight, two-story buildings which lie on a 4.17-acre lot.
* 13260 Maclay St.-This 22-unit multifamily property received $1.335 million funded under the Fannie Mae DUS Small Loan product line. The 10-year refinance loan amortizes on a 30-year schedule.
* Tuscany Villa Apartments, West Covina, CA-This 165-unit multifamily property received $1.28 million funded under the DUS Supplemental Loan product line. The nine-year equity loan amortizes on a 30-year schedule.
* The Arbors, Davis, CA-This 120-unit multifamily property received $1 million funded under the Fannie Mae DUS Small Loan product line. The 15-year refinance loan amortizes on a 15-year schedule. The Arbors was renovated in 2011 and is primarily made up of tenants from the University of California, Davis.
All of the loans were originated by Greg Gillam, director in Arbor's Manhattan Beach, Calif., office. "These loans are examples of Arbor and Fannie Mae's effort to finance well-maintained properties that provide affordable market-rate housing throughout the California, Nevada and New Mexico rental markets," Gillam said. Tags: