UNIONDALE, NY—Arbor Commercial Funding LLC, headquartered here, said Thursday it had financed 24 multifamily loans totaling $123,227,400 through a variety of Fannie Mae product lines as well as its own. The apartment assets were located mainly in the Southeast and Southwest, along with two in Ohio and one in Pennsylvania.
“As there are strong multifamily investment opportunities across the country, Arbor prides itself in providing local market expertise to its clients wherever their business takes them, as evidenced by this latest group of loans,” says Matt Norman, a Dallas-based VP who originated all of the loans. “Equally important to offering geographic diversity is product diversity and these transactions required an expansive product approach that ranged from fixed- to adjustable-rate financing to affordable housing, bridge, CMBS and small loans.”
The largest of the loans were for two properties in Houston. On one, a 455-unit asset received a $16.8-million refinance funded under the Arbor CMBS Loan product line, while the acquisition of a 704-unit Houston property received $16,534,000 through the Arbor Realty Trust Bridge Loan product line.
Arbor’s recent run of multifamily loans went to another dozen assets in Texas, mainly in the Dallas/Fort Worth metro area; three in Alabama; two in Ohio; and one each in Pennsylvania, North Carolina, Utah, Florida and New Mexico. Along with Arbor’s own product lines, Norman also originated the loans under the company’s Fannie Mae DUS Loan, Fannie Mae DUS Small Loan, Fannie Mae DUS Affordable Housing and Fannie Mae DUS ARM 7-6 programs. Arbor Commercial Funding is a wholly owned subsidiary of Arbor Commercial Mortgage LLC.