Carousel Apartments in Dallas, TX Gets $7,492,700 Fannie Mae DUS® LoanUNIONDALE, NY,Feb. 25, 2009 - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $7,492,700 loan under the Fannie Mae DUS® product line to refinance four the 276-unit property known as Carousel Apartments in Dallas, TX.
The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.70 percent.
The loan was originated by Bob Anderson, Director, in Arbor’s full-service Atlanta, GA lending office. “Arbor was able to provide a cash out refinance for an experienced borrower in the Dallas market, said Anderson. “Our underwriting team did a fantastic job in bringing this request to funding in 30 to meet the borrower’s time commitments.”
Texas, Louisiana, Oklahoma Properties Receive $6.6M Total Loans
UNIONDALE, NY- Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of four (4) loans totaling $6,623,800 under the Fannie Mae DUS® product line. These loans include:
Amber Square, San Antonio, TX – 64-unit complex in the amount of $1,600,000 under the Fannie Mae DUS® product line. The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.11 percent.
Pebble Beach Apartments, Universal City, TX – 61-unit complex in the amount of $1,339,800 under the Fannie Mae DUS® product line. The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.11 percent.
South Park Apartments, Baton Rouge, LA – Refinance of a 56-unit complex in the amount of $1,500,000 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 6.33 percent.
Treetops Apartments, Broken Arrow, OK – Refinance of a 120-unit complex in the amount of $2,184,000 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 6.83 percent.
The loans were originated by Jay Porterfield, (top right photo) Vice President, in Arbor’s full-service Dallas, TX lending.
UNIONDALE, NY- Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of four (4) loans totaling $6,623,800 under the Fannie Mae DUS® product line. These loans include:Amber Square, San Antonio, TX – 64-unit complex in the amount of $1,600,000 under the Fannie Mae DUS® product line. The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.11 percent.
Pebble Beach Apartments, Universal City, TX – 61-unit complex in the amount of $1,339,800 under the Fannie Mae DUS® product line. The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.11 percent.
South Park Apartments, Baton Rouge, LA – Refinance of a 56-unit complex in the amount of $1,500,000 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 6.33 percent.
Treetops Apartments, Broken Arrow, OK – Refinance of a 120-unit complex in the amount of $2,184,000 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 6.83 percent.The loans were originated by Jay Porterfield, (top right photo) Vice President, in Arbor’s full-service Dallas, TX lending.
“Arbor utilized the Fannie DUS® line for four differing structures on the subject loans, illustrating the versatility of the product line,” said Porterfield. “Arbor’s team worked diligently on all of these deals to provide financing that helped each Borrower meet his or her specific goals.”
Contact: Ingrid Principe, 516 506 4298. FX 516 542 2555. iprincipe@arbor.com
Contact: Ingrid Principe, 516 506 4298. FX 516 542 2555. iprincipe@arbor.com
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