Arbor Commercial Funding recently funded seven loans totaling more than $27 million across Iowa, Michigan and Wisconsin.
Stoney Creek Village Apartments in Shelby Township, Mich., received a $10.8 million 10-year refinance loan. Stoney Creek, just 30 miles from Detroit, includes 240 units.
Waterbury Place Apartments and 787 Burcham Apartments in East Lansing, Mich. received a $5.8 million 10-year refinance loan. This property includes 50 units. The properties are occupied exclusively by students at Michigan State University.
The 40-unit Aspen Village Apartments in Holt, Mich., received a $4.5 million 10-year refinance loan, while Tower Place Apartments, 32 units in Hudson, Wis., received a 10-year refinance loan of $2.4 million.
Maquoketa Park in Maquoketa, Iowa, a 56-unit property, received a $1.185 million loan, while Vinton Park, a 72-unit property in Vinton, Iowa, received a $1.5 million loan.
Strawberry Hill, a 40-unit property in Anamosa, Iowa, received a 10-year refinancing loan of $877,500.