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SAN ANTONIO-The Pipers Creek Apartments has received an $8-million refinancing loan from Arbor Commercial Mortgage LLC. The 10-year loan amortizes over a 30-year schedule and has a note rate of 6.99%.

The complex at 7940 Pipers Creek St. in the northwest submarket has 292 units and 193,300 sf in 35 buildings positioned on nine acres. Pipers Creek Apartments Ltd., based in Dublin, Ohio, is the owner.

Ralph Darius, regional director of Arbor’s Dallas office, originated the conduit loan under the company’s premium edge product line. Arbor, based in Uniondale, NY, provides debt and equity financing for multifamily apartment complexes, senior and affordable housing, hotels, office, industrial and retail properties. The company services more than $1.5 billion in loans.

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