Arbor's Oklahoma City Office Originates Nearly $30 Million in Loans
Arbor Commercial Mortgage, LLC (“Arbor”), national direct commercial real estate lender, announced in November that it funded six loans totaling nearly $30 million. Under the Fannie Mae DUS Small Loan, Freddie Mac Small Balance Loan, and FHA 223(f) programs, the mortgage company was able to secure the funding across multiple cities in Michigan -- with Vice President Mike Jehle of Arbor’s Oklahoma City office originating the loans.
Said Jehle, “Arbor has the nationwide expertise that is required to meet borrower demands no matter where they do business, including the growing multifamily markets found throughout the country.”
This comes after news of Arbor’s hundreds of millions
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The multifamily properties funded locations, funding, and amortization schedules are listed below:
Aspen Lakes Estates Apartments, Holt, MI
213-unit multifamily property
$20,400,000 funded under the FHA 223(f) Loan product line
35-year refinance loan amortizes on a 35-year schedule.
Oakwood Villa Apartments, Royal Oak, MI
100-unit multifamily property
$2,700,000 funded under the Fannie Mae DUS Small Loan product line
20-year refinance loan amortizes on a 20-year schedule.
Garfield Park Apartments, Fraser, MI
110-unit multifamily property
$2,250,000 funded under the Freddie Mac Small Balance Loan product line
Seven- year refinance loan amortizes on a 30-year schedule.
Danbury Apartments, Grand Rapids, MI
66-unit multifamily property received $1,905,000 funded under the Freddie Mac Small Balance Loan
20-year acquisition loan amortizes on a 30-year schedule.
North Park Cooperative, Detroit, MI
94-unit multifamily property
$1,600,000 funded under the Fannie Mae Small Loan product line
10-year acquisition loan amortizes on a 10-year
On the day of April 19, 1993, at the Mount Carmel Compound in Waco Texas, an inferno of flames broke out after a 51 day siege on the Branch Davidians cult group. A total of 92 lives were lost during the fire, as well as many more during the previous 51 days. Many speculations arose whether the compound being incinerated was set by the FBI in a final attempt to make the Davidians leave the compound, and end the million dollar siege once and for all, or if it was a mass suicide conducted by David Koresh, the leader of the Branch Davidians. Of course, this will always remain a mystery, because almost 100 of the members refused to leave the building, leaving it to be a national tragedy, and unclosed case of who did it.
Our investment strategy is to generate current income and excess risk-adjusted returns for our investors by originating or acquiring loans that are primarily secured by first priority mortgages, deeds of trust, or similar instruments on improved or unimproved real properties (the "Loans") located primarily in the Western part of the United States.
I like to introduce one of the most amazing company in Michigan perhaps, in the United States. The company is Quicken Loans, with locations in Arizona, North Carolina, Ohio, and Detroit, Michigan, where home base is. Dan Gilbert, Founder and Chairman of Quicken Loans proudly states that “Fulfilling a promise we made to the community and ourselves, in an AMAZING feat of willpower, determination and muscle, Quicken Loans has made Detroit its home. With passionate team members crawling all over the downtown area, and even more to join in the future, we are dedicated to revitalizing the city.”
The Millegan Creek Apartment case is an example of a commercial loan. The parties involved in the commercial loan are JP Multifamily Inc. and Fleet Bank. Real Estate group at Fleet Bank want to find out whether or not to accept JPI’s proposed $15,715,000 loan for a 390-unit apartment project in Austin, Texas. The details about the each party, market and financial analysis of the project is outlined below.
The Houston Texans performance against the Kansas City Chiefs wasn’t pretty Saturday afternoon. In the Texans 30-0 blowout loss to Kansas City, Houston failed to establish an effective running game behind running back Alfred Blue, and Texans quarterback Hoyer never got in a rhythm throwing the ball.
The Richland Area Office would like to refer Mr. Casey Campbell to Mr. Birt Dowling for a psychological evaluation. Would it be possible to arrange for a morning appointment with Mr. Dowling? Mr. Campbell is available to meet with Mr. Dowling on any Monday morning in July after the week of July 3,
A couple of weeks ago or maybe even longer we were talking on the phone about whether you would return to your job with the PHA or not. I told you that there would have to be some changes made, that things were in quite a mess.
Tulsa Memorial Hospital (TMH) is one of the nine acute care hospitals that serves in the general population area. Historically, it has been highly profitable due to its well-appointed facilities, excellent medical staff, good-standing reputation for quality care and its ability to give individual attention for each of its patients. The hospital, in addition to its inpatient services, operates an emergency department and an urgent care center located two miles from the hospital across the street from a major shopping mall.
I am fulfilling my 60-hour practicum at Miracle Hill Administrative Offices. As Thanksgiving is quickly approaching, Miracle Hill is planning for their Great Possible Turkey Fry. I have attended event planning meetings to gain insight on the process and planning that goes into the Turkey Fry. The Turkey Fry is contingent on donations and volunteer involvement. During event planning, Miracle Hill is currently switching to a new volunteer management system, “Community Connect”. I have been given the responsibility of overseeing this new system, through training and management title. Responsibilities of this new system and the Turkey Fry includes contacting volunteers by phone and email, giving directions on how to use the system, and answering
Unfortunately, I had to find someone else to speak with due to the fact that all my calls were not returned. I spoke with Bradley Roback at the Department of Planning and Development (DPD), City of Chicago. Bradley Roback is an Economic Development Coordinator for the City of Chicago. He graduated with a Bachelor of Science, Biological Sciences from Illinois State University and obtained his M.S., Master of Sciences, Public Service Management from Depaul University. His concentration is in Metropolitan Planning and Urban Affairs. Prior to his role at the DPD, he was the Director of Transportation Services with the South Suburban Mayors and Managers Association, located in East Hazel Crest, IL. Bradley's other interest include, creating
This novel is set in the future in the year 2044. Wade hardly travels outside of the OASIS into the real world, but when he said, “We lived in the Portland Avenue Stacks… just west of Oklahoma City’s decaying skyscraper core,” it shows that he lives in what used to be Oklahoma City. Many locations were mentioned in the book but the most important ones are the stacks, Wade’s van, his new home, and the virtual world inside of the
North St. Paul, Minnesota is a small town of 3 square miles that fringes upon the eastern edge of Ramsey County. Once a small manufacturing village, this city converted into a first-ring suburb. North St. Paul truly upholds a small-town feel, but simultaneously appreciates its part of a larger region.
Haskins brought to the bank. Mr. Haskins was thoroughly dissatisfied with the company’s current loan arrangement with the Sunnyvale Bank, from which it had a credit line of $6 million with accounts receivable and inventory pledged as security. He thought that Mr. Flint, the loan officer at Sunnyvale, made no effort to understand the company, and was constantly making suggestions that seemed inappropriate. He routinely visited AMT once every six months. While the visits were cordial, they were of very little value to Mr. Haskins. Furthermore, Mr. Haskins felt that the bank had been quite arbitrary in selecting the receivables that it would accept as collateral and in setting the percentage of inventory that it would advance as a loan. The restrictive attitude on the bank’s part was limiting the company’s ability to expand at exactly the time that increased volume seemed to be the key to profitability. Mr. Haskins was perfectly willing to pledge the company’s accounts receivable, inventory or anything else that the bank thought would be desirable security as long as the arrangement was fair to the company and specific enough so that he could count on having the funds available when he needed them. Mr. Winter explained that the bank was always interested in sound loan proposals from companies that showed the promise of developing into good accounts. He promised to study the request and said that he hoped to visit the company in the near future.
Countrywide’s tactics often led borrowers to expensive and sometimes unfavorable loans that resulted in richer commissions for Countrywide’s sales forces, fees to company affiliates providing services on the loans, and a roaring stock price that made Countrywide executives among the highest paid in America. Countrywide’s entire operation, from its computer system to its incentive pay structure and financing arrangements, was intended to wring maximum profits out of the mortgage lending boom no matter what it cost borrowers (Morgenson, 2007).
National, Inc. will continue to specialize in serving individuals who have less than perfect credit or who are self−employed and cannot qualify for conventional loans. The company was formed to provide loans to this niche market. The company utilizes the most current technology to enable it to not only provide competitive pricing but also excellent service. In the future, we plan to offer complementary products such as secured credit cards and debit cards, insurance, and other investment tools. It is rare in today 's business world to find a true market void. That is exactly what National has done. It has combined the latest in technology with an unfilled need and promises to deliver a high quality product at a competitive price. Our services have limited competition in Washington and even nationally because of the nature of our clients. We have built an excellent reputation in the area and wish to capitalize on it to enter the national marketplace. To reach an even larger market we will develop and utilize a web page on the Internet.