Wednesday, September 24, 2008

Arbor Closes $1.8M Fannie Mae DUS® Small Loans on Briarwood Apartments in Shreveport, LA

UNIONDALE, NY, Sept. 24, 2008-- Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $1,800,000 loan under the Fannie Mae DUS® Small Loans product line to finance the 109-unit complex known as Briarwood Apartments (top right photo) in Shreveport, LA.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.23 percent.

The loan was originated by Jay Porterfield, (bottom left photo) Director, in Arbor’s full-service Dallas, TX lending office. “Arbor provided acquisition financing for an experienced real estate investor,” Porterfield said. “We were able to slightly increase the loan amount during underwriting even in the midst of difficult market conditions.”
Contact: Ingrid Principe, Tel: (516) 506-4298, iprincipe@arbor.com
Posted by Alex at 12:02 PM
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