FORT MYERS, FL—Arbor Commercial Funding, LLC reports it has financed 16 loans totaling a little more than $57 million for multifamily properties in the state of Florida.
The loans were written under Fannie Mae Delegated Underwriting & Servicing Loan, Fannie Mae DUS Small Loan, Fannie Mae DUS Military, Fannie Mae DUS Affordable Housing and Arbor Realty Trust Bridge product lines, company officials state.
Among some of the larger transactions closed by Arbor Commercial, a wholly owned subsidiary of Uniondale, NY-based Arbor Commercial Mortgage, LLC, included $12.6 million in financing for The Brittany Apartments in Fort Myers. The loan for the 320-unit multifamily property was funded under the Fannie Mae DUS Affordable Housing Loan product line. The 10-year acquisition loan amortizes on a 30-year schedule. The loan was originated by Stephen York, vice president with Arbor.
The firm also announced that a 300-unit multifamily property in Tampa received approximately $9.3 million in funding under the Arbor Realty Trust Bridge Loan product line. The two-year loan was for an acquisition. In addition, a 188-unit multifamily property in Margate received $7.75 million in financing under the Arbor Realty Trust Bridge Loan product line. The two-year loan was also for an acquisition.
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