UNIONDALE, NY March 20, 2008-- Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $4,100,000 loan under the Fannie Mae DUS® product line to refinance the 96-unit complex known as Bone Creek Apartments in Fayetteville, NC. The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.32 percent.
The loan was originated by John Edwards, (photo at right) Director, in Arbor’s full-service Boston, MA lending office. “We were pleased with the opportunity to fund this transaction with solid sponsorship and management,” said Edwards. “We greatly appreciated the trust the client placed with Arbor and we look forward to future financing opportunities.” *DUS and 3MaxExpress are registered marks of Fannie Mae
Contacts:
Arbor Commercial Mortgage LLC
Arbor Realty Trust, Inc.
333 Earle Ovington Blvd, Suite 900
Uniondale, NY 11553
Ingrid Principe
Tel: (516) 506-4298
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