RICHMOND AND CHESTER, VA. — Arbor Commercial Mortgage LLC has arranged two FHA-insured multifamily loans totaling more than $29 million. Hal Reinauer of Arbor's Boston office arranged a 40-year, $22 million construction loan for Shafer Grace, a planned apartment community in Richmond that will include 152 units. The loan features a 40-year amortization schedule. Planned amenities include a fitness center, roof deck, clubhouse, washer/dryer units, garage parking, storage and Internet, phone and cable included in the rent payments. Reinauer also arranged a 37-year, $7.3 million refinance loan for Chesterfield Gardens Apartments, a 105-unit community in Chester, located 17 miles south of Richmond. The loan features a 37-year amortization schedule. Amenities include a clubhouse, 24-hour fitness center, swimming pool, tennis court and playground.
Shafer Grace is a planned apartment community in Richmond that will include 152 units.
ARBOR ARRANGES TWO LOANS TOTALING $29M FOR VIRGINIA PROPERTIES
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