Uniondale, N.Y. — National direct lender secures refi on The Lofts.
Uniondale, N.Y. — Arbor Commercial Funding has announced the recent funding of a $21,250,000 refinance loan for The Lofts Apartments in Morgantown, WV. The 10-year loan amortizes on a 30-year schedule.
The Lofts are a 218-unit, 648-bed complex near West Virginia University in Morgantown. They were constructed in 2010. The property is currently 96 percent occupied.
“We look forward to continuing to actively finance student housing communities across the country,” says John Kelly, loan originator and vice president of Arbor Commercial Mortgage.
- Lynn Peisner