Done Deals: Arbor Closes $2,400,000 Fannie Mae DUS® 3Max Express® Loan for Watauga Manor Apartments in Fayetteville, NC

Saturday, March 15, 2008

Arbor Closes $2,400,000 Fannie Mae DUS® 3Max Express® Loan for Watauga Manor Apartments in Fayetteville, NC

UNIONDALE, NY--Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $2,400,000 loan using Fannie Mae’s DUS® 3Max Express® program to acquire the 79-unit complex known as Watauga Manor Apartments (photo top left) in Fayetteville, NC.

The 10-year loan amortizes on a 30-year schedule, and carries a note rate of 6.61 percent.

The loan was originated by John Edwards, Director, in Arbor’s full-service Boston, MA lending office. “This transaction reflects our sincere desire to provide financing to strong local owners and operators while establishing long-term business relationships,” said Edwards. “We look forward to providing financing for this client when the need arises.”

DUS and 3MaxExpress are registered trademarks of Fannie Mae

Contacts:
Arbor Commercial Mortgage LLC

Arbor Realty Trust, Inc.