Arbor Closes 3 Fannie Mae Loans Totaling Over $6M

Knoxville, TN Portfolio Receives $3,680,000; Odessa, TN Property Obtains $1,484,500.

UNIONDALE, NY--) Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of two (2) loans totaling $5,164,500 under the Fannie Mae DUS® product line. These loans include:

Knoxville Portfolio, Knoxville, TN – This is a refinance for properties known as Morningside Hills Apartments and Magnolia Apartments totaling 154 units in the amount of $3,680,000 under the Fannie Mae DUS® product line. The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.51 percent.

Cielo Vista Townhouse, Odessa, TX – This is an acquisition of a 56-unit complex in the amount of $1,484,500 under the Fannie Mae DUS® Small Loan product line.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.64 percent.

The loans were originated by Stephen York, (top right photo) Director, in Arbor’s full-service Uniondale, NY lending office.

“Arbor was pleased to deliver competitive financing terms to the Sponsors of both of these transactions,” said York.

Tally Ho Apartments in Sioux Falls, SD Receives $1,528,700 Loan

UNIONDALE, NY --- Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $1,528,700 loan under the Fannie Mae DUS® product line to refinance the 78-unit property known as Tally Ho Apartments (bottom left photo) in Sioux Falls, SD.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.87 percent.

The loans were originated by Stephen York, Director, in Arbor’s full-service Uniondale, NY lending office.

“Arbor was pleased to deliver competitive terms that included a sizeable cash out,” said York. “We look forward to future opportunities with this client.”

Contact: Ingrid Principe, P: 516.506.4298. F: 516.542.2555. http://www.arbor.com/