Arbor Closes $6,671,000 Fannie Mae DUS® Loan on Renaissance Park in Austin, TXUNIONDALE, NY, Oct. 2, 2008-– Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $6,671,000 loan under the Fannie Mae DUS® product line to refinance the 210-unit complex known as Renaissance Park(top right photo) in Austin, TX.
The 7-year loan amortizes on a 30-year schedule and carries a note rate of 6.45 percent.
The loan was originated by Matt Norman, (middle left photo) Director, in Arbor’s full-service Dallas, TX lending office. “Arbor’s underwriting team rose to the challenge by structuring suitable acquisition financing for a well-capitalized foreign investment group looking to make its first acquisition in Texas,” said Norman.
Arbor Closes $3,086,500 Fannie Mae DUS® Small Loan at 507 W 139th St. in New York
UNIONDALE, NY, Oct. 2, 2008 – Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $3,086,500 loan under the Fannie Mae DUS® Small Loans product line to refinance the 21-unit complex known as 507 W 139th Street in New York, NY. (site map bottom left)
The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.29 percent.
The loan was originated by Patrick McGovern, (middle right photo) Director, in Arbor’s full service New York, NY lending office.
UNIONDALE, NY, Oct. 2, 2008 – Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $3,086,500 loan under the Fannie Mae DUS® Small Loans product line to refinance the 21-unit complex known as 507 W 139th Street in New York, NY. (site map bottom left)
The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.29 percent.
The loan was originated by Patrick McGovern, (middle right photo) Director, in Arbor’s full service New York, NY lending office. “Arbor was pleased to provide cash out refinancing to a first-time borrower in the Washington Heights area of Manhattan,” said McGovern.
“The additional proceeds will allow the borrower to invest in future opportunities in the area.”
Arbor Closes $1,167,000 Fannie Mae DUS® Small Loans on Barbara Worth Apartments in Salt Lake City, UT
UNIONDALE, NY – Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $1,167,000 loan under the Fannie Mae DUS® Small Loans product line to refinance the 34-unit complex known as Barbara Worth Apartments (middle right photo) in Salt Lake City, UT.
UNIONDALE, NY – Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $1,167,000 loan under the Fannie Mae DUS® Small Loans product line to refinance the 34-unit complex known as Barbara Worth Apartments (middle right photo) in Salt Lake City, UT.
The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.36 percent.
The loan was originated by Felipe Rael, (bottom left photo) Director, in Arbor’s full-service Albuquerque, NM lending office.
The loan was originated by Felipe Rael, (bottom left photo) Director, in Arbor’s full-service Albuquerque, NM lending office.
“This is a feather in our cap given the timing pressure put on b
y the servicer on the retired note,” said Rael.
y the servicer on the retired note,” said Rael. “We went one business day over a very aggressive processing timeline. The borrowers and broker were very motivated to close, which helped us out tremendously.”
Contact: Ingrid Principe, iprincipe@arbor.com Tel: (516) 506-4298
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