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Arbor Commercial Funding, a Uniondale, N.Y.-based national commercial real estate lender, closed 13 loans totaling $62.7 million across three states under the Fannie Mae delegated underwriting and servicing loan, Fannie Mae DUS small loan and Arbor bridge loan product lines.
"All of the loans in this collection of recently closed Southeast deals represent business with repeat clients, a long-standing hallmark of Arbor," said Brian Scharf, vice president in Arbor's Uniondale office, where the loans were originated.
Scharf said the company is seeing more growth in multifamily housing fundamentals across all asset classes, and the company intends to grow its loan production in the "fundamentally sound Southeast region" as well as "across the nation, encompassing major secondary and tertiary markets as well as Class A, B and C properties."
The loans, which were in Virginia, North Carolina and Georgia, included a 236-unit multifamily property in LaGrange, Ga., which received $17.1 million under the Fannie Mae DUS loan product line; a 192-unit multifamily property in Mebane, N.C., which received $10.8 million funded under the same product line; and a 132-unit multifamily property in Charlotte, N.C., that received $4.7 million, also under that product line.
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