Outside the Region: Noll of Arbor Realty Trust originates seven loans totaling $15.048 million

Spring Valley, CA Arbor Realty Trust, Inc. has funded seven loans totaling $15,048 million under the Fannie Mae DUS Loan, Fannie Mae DUS Small Loan, and Freddie Mac SBL product lines. Michael Noll, an originator sales associate located in Arbor’s NYC office, originated all of the loans:

• 16 unit-property totaling 24,394 s/f received $2 million under the Freddie Mac Small Balance Loan product with a 20-year fixed-to-floating rate amortizing on a 30-year schedule and one year of interest-only payments.

• 23-unit property in Ypsilanti, Mi. received $1.72 million funded under the Freddie Mac Small Balance Loan product. Cash-out refinance proceeds were used towards the acquisition of Eastwood Terrace and the transactions were run concurrently.

• 84-unit multifamily in Ypsilanti, Mi. received $4.62 million funded under the non-recourse FNMA DUS Loan product line. The seven-year acquisition loan amortizes on a 30-year schedule with five years of yield maintenance. The loan included proceeds to be used for capital improvements.

• 20-unit property in Edmond, Ok. received $1.31 million under the Freddie Mac Small Balance Loan product. This was a cash-out refinance for first-time Freddie Mac clients.

• 12-unit property in Chicago anchored by 2,266 s/f retail, received $2.35 million under the Freddie Mac Hybrid ARM. The 20-year term is fixed for the first 10 years,  floating for the next 10 years, with interest-only for three years and the remaining term amortizing over a 30-year schedule.

• 86-unit property in Oxford, Oh. refinanced through the FNMA MAH Small Loan program. The property consisting of six, two-story apartment buildings and three non-residential buildings (storage buildings) received $2.688 million–10-year fixed-rate term with 9.5 years of yield maintenance and a 30-year amortization schedule. 

• 18-unit multifamily in San Diego, received $1.581 million funded through the Fannie Mae Small Loan product line. The loan had a 20-year hybrid term with 4.5-year yield maintenance through the fixed-rate term and 1% thereafter on a 30-year amortization schedule.

Noll said, “As demonstrated by these transactions, the flexibility of our multifamily lending options allows us to provide customized solutions across the country. Arbor is uniquely positioned as a one-stop-shop for multifamily owners with the wide variety of products and loan structures necessary to help all our clients meet their business goals.”