NEW YORK—Arbor Commercial Funding LLC (Arbor), a wholly owned subsidiary of Arbor Commercial Mortgage LLC headquartered in Uniondale, N.Y., has funded eight loans totaling $31.222 million across California, New Mexico and Nevada with Fannie Mae.
These loans include:
• $9.024 million for 570 Knollview Court in Palmdale, Calif., a 144-unit multifamily property, which was funded under the Fannie Mae DUS ARM 7-6 Loan product line. The seven-year acquisition loan amortizes on a 30-year schedule. Amenities at Knollview Court include an in-ground pool, whirlpool spa, laundry rooms and gazebo.
• $8.183 million for 1801-1825 Morton Avenue in Los Angeles, Calif, a 66-unit multifamily property, which was funded under the Fannie Mae DUS Loan product line. The 10-year refinance loan amortizes on a 30-year schedule.
• $3.7 million for Garden Estates Apartments in Ventura, Calif., a 48-unit multifamily property, which was funded under the Fannie Mae DUS Small Loan product line. The 10-year refinance loan amortizes on a 30-year schedule. Comprised of seven, two-story buildings, Garden Estates includes two laundry centers and a basketball court.
• $3.6 million for Madison at Green Valley Apartments in Henderson, Nev., a 88-unit multifamily, which was funded under the Fannie Mae DUS Loan product line. The five-year refinance loan amortizes on a 30-year schedule. Located six miles from McCarran International Airport and nine miles from the Las Vegas Strip, amenities at Madison at Green Valley include an in-ground swimming pool.
• $3 million for Woodcrest Apartments in Las Cruces, N.M., a 96-unit multifamily property, which was funded under the Fannie Mae DUS Small Loan product line. The 10-year refinance loan amortizes on a 30-year schedule. Comprised of eight, two-story buildings situated on a 4.17-acre lot, the property offers residents a pool and barbeque area.
• $1.335 million for 13260 Maclay Street in Los Angeles, Calif., a 22-unit multifamily property, which was funded under the Fannie Mae DUS Small Loan product line. The 10-year refinance loan amortizes on a 30-year schedule.
• $1.28 million for Tuscany Villa Apartments in West Coniva, Calif., a 165-unit multifamily property, which was funded under the DUS Supplemental Loan product line. The nine-year equity loan amortizes on a 30-year schedule. Comprised of two buildings, Tuscany Villa Apartments was renovated in 2010 and has two pools, a fitness center and barbeque area.
• $1 million for The Arbors in Davis, Calif., a 120-unit multifamily property, which was funded under the Fannie Mae DUS Small Loan product line. The 15-year refinance loan amortizes on a 15-year schedule. Renovated in 2011, The Arbors includes a fitness center and pool.
All of the loans were originated by Greg Gillam, director in Arbor’s Manhattan Beach, Calif. office.
