Arbor Closes $3,500,000 Fannie Mae DUS® Loan on Urbane on Washington in Royal Oak, MI

UNIONDALE, NY--Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $3,500,000 loan under the Fannie Mae DUS® product line to refinance the 39-unit complex known as Urbane on Washington in Royal Oak, MI.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.92 percent.

The loan was originated by Michael Jehle, (top left photo) Midwest Director, in Arbor’s full-service Bloomfield Hills, MI lending office. “The owners of this property had spent a considerable amount of money renovating and re-leasing this building after acquisition,” said Jehle. “Once completed, Arbor was able to take out their short-term floating rate debt with a very attractive long-term fixed rate, which was exactly what they wanted.”

DUS and 3MaxExpress are registered marks of Fannie Mae

Contact
Arbor Commercial Mortgage LLC
Arbor Realty Trust, Inc.

333 Earle Ovington Blvd, Suite 900

Uniondale, NY 11553

http://www.arbor.com/

Ingrid Principe

Tel: (516) 506-4298