Thank you for sharing!

Your article was successfully shared with the contacts you provided.

HOUSTON-The Swiss Village at 9603 Homestead Rd. in the northeast section of Houston has received a $3.5-million loan under the Fannie Mae DUS Multifamily Affordable Housing line of Arbor Commercial Mortgage LLC in Uniondale, NY.

Arbor’s Dallas lending office has arranged the loan, which will replace an Arbor-Fannie Mae-funded forward commitment to construct the complex. The 30-year loan carries an 18-year amortization with 8.4% interest. Staci Mankoff, regional director for the Arbor Dallas office tells GlobeSt.com the loan replaces financing for an 88-unit, phase II construction. Phase I consists of 168 units.

Swiss Village Community Ltd.’s phase I is not a tax-credit property like the second phase. The Texas Department of Housing and Community Affairs, which oversees affordable rent properties, issues the tax credits.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. APARTMENTS Fall 2021Event

Join 1000+ of the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.