UNIONDALE, NY-- Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of two loans totaling $4,100,000 under the Fannie Mae DUS® 3MaxExpress® product line to refinance two properties totaling 182 units known as Stratford East and Stratford West (top photo) in Wichita, KS.The two 10-year loans amortize on a 30-year schedule and carry a note rate of 5.85 percent. DUS and 3MaxExp
ress are registered marks of Fannie MaeThe loan was originated by Jay Porterfield, (top right photo) Director, in Arbor’s full-service Plano, TX lending office.
“Arbor provided a loan to refinance the existing debt in conjunction with a restructuring of the ownership entity,” said Porterfield. “We had a very short timeframe due t
o some contractual deadlines related to the restructuring. Arbor was able to lock the rate early in the process and meet the required closing deadline. The broker and the borrower were very pleased with the overall process and the outstanding work of the Arbor team.”
CONTACT:
o some contractual deadlines related to the restructuring. Arbor was able to lock the rate early in the process and meet the required closing deadline. The broker and the borrower were very pleased with the overall process and the outstanding work of the Arbor team.”CONTACT:
Arbor Commercial Mortgage LLC
Arbor Realty Trust, Inc.
333 Earle Ovington Blvd, Suite 900
Uniondale, NY 11553
Ingrid Principe
Tel: (516) 506-4298
No comments:
Post a Comment