Arbor Closes Two Student Housing Loans Near Central Michigan

The two loans total $11.5 million.

 

Mt. Pleasant, Mich. — Arbor Commercial Funding, a wholly owned subsidiary of Arbor Commercial Mortgage, has funded two loans under the Fannie Mae DUS Dedicated Student Housing Loan product line. The loans, totaling $11.5 million, are for two student housing properties in Mt. Pleasant. The assets include the 457-unit Jamestown Apartments, which received a 10-year, $9.4 million loan, and the 42-unit West Campus Village, which received a 10-year, $2.1 million loan. Michael Jehle of Arbor's Bloomfield Hills, Mich., office originated the loans.

 

— Amy Bigley

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