BOSTON — Arbor Commercial Mortgage LLC has funded 14 loans totaling $107.2 million for residential properties throughout the United States. The properties include 12 multifamily and two student housing buildings in North Carolina, Illinois, South Carolina, Connecticut, Massachusetts, Mississippi and Virginia.
The loans include:
· A $27 million loan for the refinancing of a 288-unit student housing property in Greenville, N.C. The bridge loan carries a term of two years, and the property serves East Carolina University students.
· A $17.5 million loan for the refinancing of Compass Landing, a 192-unit multifamily property in Newport, N.C. The 15-year, Fannie Mae DUS includes a 30-year amortization schedule. The property is located less than three miles from entertainment, shopping, schools and places of employment.
· A $12.5 million loan for the refinancing of Windsor Upon Stonecrest, a 220-unit multifamily property in Burlington, N.C. The 15-year, Fannie Mae DUS loan includes a 30-year amortization schedule. Amenities include a swimming pool with a waterfall, a hot tub, a playground, detached garages, storage units, a car wash, a barbeque area, a tanning salon and open surface parking spaces.
· A $9.5 million CMBS loan was secured by a 105-unit multifamily property in Fayetteville, N.C.
· A $3.6 million loan for the refinancing of Flat Creek, a 50-unit multifamily property located in Weaverville, N.C. The 10-year, Fannie Mae DUS loan includes a 30-year amortization schedule.
· An $18.5 million CMBS loan was secured by a 152-unit student housing property in Macomb, Ill.
· An $11.6 million loan for the refinancing of Villas at Marlin Bay, a 168-unit multifamily property in Lake Wylie, S.C. The 10-year, Fannie Mae DUS loan includes a 30-year amortization schedule. Amenities at The Villas at Marling Bay include a fitness center, laundry room, pool and playground.
· A $2.7 million loan for the refinancing of Gilbert Clock Apartments, a 72-unit multifamily property located in Windsted, Conn. The 10-year, Fannie Mae DUS loan includes a 30-year amortization schedule.
· A $1.7 million loan for the refinancing of Westbrook Park Apartments, a 37-unit multifamily property located in Seymour, Conn. The 10-year, Fannie Mae DUS loan includes a 30-year amortization schedule. Westbrook is a garden-style apartment complex, which includes a common washer/dryer area and tenant storage.
· A $2.7 million loan for the refinancing of Hunter Oaks Apartments, a 144-unit multifamily property located in Clinton, Miss. The 10-year, Fannie Mae DUS loan includes a 30-year amortization schedule. Hunter Oaks is a garden-style apartment complex located in central Mississippi, about seven miles west of Jackson.
· A $2.1 million loan for the refinancing of County Green Apartments, a 36-unit multifamily property located in Attleboro, Mass. The 10-year, Fannie Mae DUS loan includes a 30-year amortization schedule.
· A $1.4 million loan for the refinancing of 77 Green Street, a 27-unit multifamily property located in Lynn, Mass. The 10-year, Fannie Mae DUS loan includes a 30-year amortization schedule. The property is located nine miles north Boston.
· A $1.2 million loan for the refinancing of 28-30 Franklin Street Apartments, a 24-unit multifamily property located in Lynn, Mass. The 10-year, Fannie Mae DUS loan includes a 30-year amortization schedule.
· A $1.2 million loan for the refinancing of Taylor Lofts Apartments, a 47-unit multifamily property located in South Boston, Va. The 15-year, Fannie Mae DUS loan includes a 30-year amortization schedule. The property includes amenities such as an onsite fitness center, a central laundry facility and on-site parking. Taylor Lofts Apartments is close to downtown South Boston.
John Edwards, a vice president in Arbor’s Boston office, originated all of the loans.