Arbor funds $30 million in multifamily deals across Michigan

Holt, MI Arbor Commercial Mortgage, LLC, a national, direct commercial real estate lender, announced the recent funding of six loans totaling $29,855,000 across Michigan under the Fannie Mae DUS Small Loan, Freddie Mac Small Balance Loan and FHA 223(f) programs. Mike Jehle, vice president in Arbor’s Oklahoma City, OK, office, originated all of the loans. “Arbor has the nationwide expertise that’s required to meet borrower demands no matter where they do business, including the growing multifamily markets found throughout the country,” said Jehle. “As demonstrated by this collection of loans, Arbor is providing investors the personal service and customized loan products they need to take advantage of today’s strong multifamily market conditions.” · Aspen Lakes Estates Apartments, Holt, MI – This 213-unit multifamily property received $20.4 million funded under the FHA 223(f) Loan product line. The 35-year refinance loan amortizes on a 35-year schedule. · Oakwood Villa Apartments, Royal Oak, MI – This 100-unit multifamily property received $2.7 million funded under the Fannie Mae DUS Small Loan product line. The 20-year refinance loan amortizes on a 20-year schedule. · Garfield Park Apartments, Fraser, MI – This 110-unit multifamily property received $2.25 million funded under the Freddie Mac Small Balance Loan product line. The seven-year refinance loan amortizes on a 30-year schedule. · Danbury Apartments, Grand Rapids, MI – This 66-unit multifamily property received $1.905 million funded under the Freddie Mac Small Balance Loan. The 20-year acquisition loan amortizes on a 30-year schedule. · North Park Cooperative, Detroit, MI – This 94-unit multifamily property received $1.6 million funded under the Fannie Mae Small Loan product line. The 10-year acquisition loan amortizes on a 10-year schedule. · Oak Park Apartments, Grand Rapids, MI – This 42-unit multifamily property received $1 million funded under the Freddie Mac Small Balance Loan product line. The 20-year acquisition loan amortizes on a 30-year schedule.