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WILLIAMSTOWN, NJ-According to Steven Heller, senior vice president for the Eastern Region of ARCS Commercial Mortgage Co., his company has arranged a $4 million mortgage loan for the Williamstown Gardens Apartments, a 168-unit apartment property in this Gloucester County community in South Jersey. The Woodland Hills, CA-based ARCS has its Eastern Region office in Princeton, NJ.

The loan, which was originated by the Princeton office through the Freddie Mac Program Plus, is for a 10-year term with 30-year amortization, and carries a rate of 6.36%, according to Heller. The identity of the borrower was not disclosed.

According to recent figures, ARCS has been the top Fannie Mae DUS lender for the past half-dozen years, and the top Fannie Mae affordable housing lender for the last four years. The company is a Freddie Mac Program Plus lender as well, and has ties to major financial institutions and Wall Street houses, according to Heller. Last year, the company’s total fundings, including DUS, totaled almost $3.3 billion.

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