ARBOR ARRANGES THREE MULTIFAMILY LOANS TOTALING $5.11 MILLION
OKLAHOMA AND TEXAS — Arbor Commercial Funding has arranged three loans totaling $5.11 million for three multifamily communities. Jay Portenfield of Arbor’s Dallas office secured the loans through the Fannie Mae DUS product line. In Broken Arrow, Okla., a $2.18 million loan was secured for the refinancing of the 120-unit Treetops Apartments. The loan carries a 10-year term, a 30-year amortization schedule and a 6.83 percent interest rate. In San Antonio, a $1.6 million loan was secured for the 64-unit Amber Square multifamily property. The loan also carries a 10-year term and 30-year amortization, but with a 6.11 percent note rate. Finally, in Universal City, Texas, a $1.33 million loan was secured for the 61-unit Pebble Beach Apartments. The loan carries identical terms to the financing arranged for Amber Square. The borrowers were not disclosed.