07 Jun. 2016

Arbor Funds $54M in Multifamily Deals Across NYC & Eastern U.S.

Arbor Funds $54M in Multifamily Deals Across NYC & Eastern U.S.

UNIONDALE, NY (June 7, 2016) – Arbor Commercial Mortgage, LLC (“Arbor”), a national, direct commercial real estate lender, announced the recent funding of 22 loans totaling  $54,938,100 across New York, Florida and New Jersey under Arbor’s Freddie Mac Small Balance Loan program.

Ari Short, an Originator in Arbor’s New York, NY office, originated each of the loans. “Arbor has the nationwide expertise that’s required to meet borrower demands no matter where they do business, including across the vibrant East Coast market,” Short said. “As demonstrated by this collection of loans, Arbor is providing investors the personal service and customized loan products they need to take advantage of today’s strong multifamily market conditions.”

The loans included the following:

New York

·         Bronx Portfolio, Bronx, NY – Ninety-seven units stretched over three multifamily properties property received a total of $12,670,000 funded under Freddie Mac Small Balance Loan product line. The 20-year refinance loan with five years fixed amortizes on a 30-year schedule.

·         Eastern Parkway Portfolio, Brooklyn, NY – Forty-nine units stretched over five multifamily properties received a total of $9,617,100 funded under Freddie Mac Small Balance Loan product line. The 20-year refinance loan with five years fixed amortizes on a 30-year schedule.

·         429 Lenox Avenue Apartments, New York, NY – This 23-unit multifamily property received $5,125,000 funded under the Freddie Mac Small Balance Loan product line. The 20-year refinance loan with five years fixed amortizes on a 30-year schedule.

·         3212 Cruger Avenue, Bronx, NY – This 27-unit multifamily property received $3,100,000 funded under the Freddie Mac Small Balance Loan product line. The 20-year refinance loan with five years fixed amortizes on a 30-year schedule.

·         402 E 136th Street Apartments, New York, NY – This 20-unit multifamily property received $2,850,000 funded under the Freddie Mac Small Balance Loan product line. The 20-year refinance loan with five years fixed amortizes on a 30-year schedule.

·         181, 183, 187 City Island Avenue, Bronx, NY – This 18-unit multifamily property received $2,100,000 funded under the Freddie Mac Small Balance Loan product line. The 20-year refinance loan with five years fixed amortizes on a 30-year schedule.

·         1006 Intervale Avenue, Bronx, NY – This 21-unit multifamily property received $2,000,000 funded under Freddie Mac product line. The 20-year refinance loan with five years fixed amortizes on a 30-year schedule.

·         522 E 149th Street Apartments, New York, NY – This 10-unit multifamily property received $1,380,000 funded under the Freddie Mac Small Balance Loan product line. The 20-year refinance loan with five years fixed amortizes on a 30-year schedule.

·         317 E 150th Street Apartments, New York, NY – This 16-unit multifamily property received $1,325,000 funded under the Freddie Mac Small Balance Loan product line. The 20-year refinance loan with five years fixed amortizes on a 30-year schedule.

Florida

·         Miami Portfolio – One hundred seventy-seven units stretched over six multifamily properties received a total of  $12,346,000 funded under the Freddie Mac Small Balance Loan product line. The 20-year refinance loan with five years fixed amortizes on a 30-year schedule.

New Jersey

·         112-118 Tonnele Avenue, Jersey City, NJ – This 27-unit multifamily property received a total of $2,425,000 funded under the Freddie Mac Small Balance Loan product line. The 20-year refinance loan with five years fixed amortizes on a 30-year schedule.

About Us
Founded by Chairman and CEO Ivan Kaufman, Arbor Commercial Mortgage, LLC and Arbor Commercial Funding, LLC are national direct lenders specializing in loan origination and servicing for multifamily, seniors housing, healthcare and other diverse commercial real estate assets. Arbor is a Top 10 Fannie Mae DUS® Multifamily Lender by volume and a Top Fannie Mae Small Loan lender, a Freddie Mac Program Plus® Seller/Servicer and the Top Freddie Mac Small Balance Loan Lender, a Fannie Mae and Freddie Mac Seniors Housing Lender, an FHA Multifamily Accelerated Processing (MAP)/LEAN Lender, a HUD-approved LIHTC Lender as well as a CMBS, Bridge, Mezzanine and Preferred Equity lender, consistently building on its reputation for service, quality and flexibility. Arbor also offers Arbor LoanExpress, an online loan origination and processing platform designed to make multifamily financing easier and quicker for borrowers, brokers and correspondent lenders. With a current servicing portfolio of more than $13 billion, Arbor is a primary commercial loan servicer and special servicer rated by Standard & Poor’s with an Above Average rating. Arbor is also on the Standard & Poor’s Select Servicer List and is a primary commercial loan servicer and loan level special servicer rated by Fitch Ratings.

Arbor Commercial Mortgage, LLC also manages Arbor Realty Trust, Inc., a real estate investment trust, (REIT), formed to invest in mortgage-related securities, real estate-related bridge, junior participating interests in first mortgages, mezzanine loans, preferred and direct equity investments and in limited cases, discounted mortgage notes and other real estate related assets. Arbor is headquartered in Uniondale, NY, with full-service lending offices throughout the United States.  For more information about Arbor, visit www.arbor.com.

« view all Press Releases