Dealmaker: Arbor Funds $73M in Fannie Mae DUS Loans
Arbor Realty Trust, Uniondale, N.Y., funded $73.2 million in Fannie Mae Delegated Underwriting and Servicing loans in Texas and Kansas.
In Texas, Casa Verde Apartments received $28 million in refinance funding through the DUS program. The 384-unit community dates to 1973 and was renovated in 2010. Brian Scharf from Arbor’s Uniondale office originated the loan.
Elsewhere in Texas Arbor funded $15.4 million in Fannie Mae loans. Kenwood Heights Apartments in Corsicana received $8.2 million in acquisition financing with a 12-year fixed rate and one year of interest-only payments. Built in 1984, the property has 211 units.
Bella Brisa Apartments in Laredo received $3.2 million in refinance funding with a 10-year fixed rate, two years of interest-only payments and 30-year amortization through the Fannie Mae DUS Small Loans program. The 42-unit property was built in 2012.
Monaco Boulevard Apartments in Laredo received a $4 million refinance with a 10-year fixed rate, two years of interest-only payments and 30-year amortization, also through the Fannie Mae DUS Small Loans program. Built in 2013, Monaco Boulevard Apartments has 44 units. Jared Stein of Arbor’s New York office originated the loans.
Arbor also funded three Fannie Mae DUS loans totaling $13.7 million in Wichita, Kan. Eugene Yanovskiy from the firm’s New York office originated all three loans.
Kingston Cove Apartments received $8.9 million in Fannie Mae acquisition financing with a 12-year fixed rate, one year of interest-only payments and a 30-year amortization. The Danish Village Apartments received $2.1 million in 12-year acquisition funding and Pine Creek Apartments received $2.7 million in fixed-rate acquisition financing through Fannie Mae’s Small Loan program. The 68-unit property is three miles from downtown Wichita.