Posted: May 28, 2013
Porterfield of Arbor arranges 14 loans totaling $86.412 million
Arbor Commercial Funding, LLC has funded 14 loans totaling $86.412 million across Texas and California under the Fannie Mae Delegated Underwriting & Servicing (DUS) Loan, Fannie Mae DUS Small Loan and Fannie Mae DUS ARM 7/6 product lines. All of the loans were originated by Jay Porterfield, VP in Arbor's Plano, Tex., office. The loans include:
* Creekside Glen Apartments, Walnut Creek: This 152-unit multifamily property received $18.399 million funded under the Fannie Mae DUS ARM 7/6 product line.
* Carmel House Apartments, Walnut Creek: This 107-unit multifamily property received $12.894 million funded under the Fannie Mae DUS ARM 7/6 product line.
* Cypress Creek Apartments, Walnut Creek: This 99-unit multifamily property received $11.66 million funded under the Fannie Mae DUS ARM 7/6 product line.
* Briarwood Apartments, Turlock, CA: This 144-unit multifamily property received $5.4 million funded under the Fannie Mae DUS Loan product line.
* Coaling Station B Apartments, Coalinga, CA: This 105-unit multifamily property received $3.35 million funded under the Fannie Mae DUS Loan product line.
* Village Ceres Apartments, Ceres, CA: This 48-unit multifamily property received $1.82 million funded under the Fannie Mae DUS Small Loan product line.
* Park Lane Villas, Austin, Tex.: This 242-unit multifamily property received $11.345 million funded under the Fannie Mae DUS Loan product line.
* Trinity Oaks Apartments, Dallas, Tex.: This 240-unit multifamily property received $5.3 million funded under the Fannie Mae DUS Loan product line.
* The Forest at Duck Creek Apartments, Garland, Tex.: This 130-unit multifamily property received $5.025 million funded under the Fannie Mae DUS Loan product line.
* Stone Creek Apartments, Marshall, Tex.: This 80-unit multifamily property received $3.32 million funded under the Fannie Mae DUS Small Loan product line.
* The Palms of Lake Jackson, Lake Jackson, Tex.: This 184-unit multifamily property received $3.25 million funded under the Fannie Mae DUS Loan product line.
* Highland Sq. Apartments, Alvin, Tex.: This 104-unit multifamily property received $1.85 million funded under the Fannie Mae DUS Small Loan product line.
* Meadowlark Place, Lindale, Tex.: This 56-unit multifamily property received $1.7 million funded under the Fannie Mae DUS Small Loan product line.
* Valencia Apartments, Harlingen, Tex.:This 62-unit multifamily property received $1.1 million funded under the Fannie Mae DUS Small Loan product line.
"As a national direct lender, Arbor has comprehensive market expertise throughout the country, including in such multifamily hotbed markets as California and Texas," Porterfield said. "As demonstrated by this diverse portfolio of loans, Arbor is providing the personal service and expertise needed for investors to take advantage of today's strong market conditions."
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