I see you mean "targeted" fat loss. Well there is, expect other parts of the body with also be affected but not as much as the area you are targeting.

When you do a machine prescher curl for your arms and shoulders, you will notice your arm muscles are used more than your quads.

And when you continue with this one exercise over a long period of time you will notice your upperbody grows bigger more than your lower body.

So yes, you can target specific area but that doesn’t mean you won't be working other areas too.