Arbor Closes $1,625,600 Fannie Mae DUS® Loan on Riverpoint Apartments in Dallas, TX

UNIONDALE, NY, Nov. 17, 2008-– Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $1,625,600 loan under the Fannie Mae DUS® product line to refinance the 34-unit complex known as Riverpointe Apartments (top right photo) located in Dallas, TX.

The 7-year loan amortizes on a 30-year schedule and carries a note rate of 6.50 percent.

The loan was originated by Patrick McGovern, (bottom left photo) Director, in Arbor’s full-service New York City lending office. “Arbor was able to creatively structure the financing to meet the borrower’s needs in a timely manner,” said McGovern.

Contact: Ingrid Principe, Tel: (516) 506-4298
iprincipe@arbor.com