UNIONDALE, NY (Feb.17, 2009) – Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of three (3) loans totaling $6,990,600 under the Fannie Mae DUS® product line. These loans include:
Spring Village (top right photo) - Houston, TX - 132-unit complex in the amount of $2,918,400 funded under the Fannie Mae DUS® Small Loans product line. The 7-year loan amortizes on a 30-year schedule and carries a note rate of 6.33 percent.
Highland Park Apartments (middle left photo) – Albuquerque, NM - 80-unit complex in the amount of $2,910,200 funded under the Fannie Mae DUS® Small Loans product line. The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.40 percent.
Spring Village (top right photo) - Houston, TX - 132-unit complex in the amount of $2,918,400 funded under the Fannie Mae DUS® Small Loans product line. The 7-year loan amortizes on a 30-year schedule and carries a note rate of 6.33 percent.
Highland Park Apartments (middle left photo) – Albuquerque, NM - 80-unit complex in the amount of $2,910,200 funded under the Fannie Mae DUS® Small Loans product line. The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.40 percent.
Melborne – Phoenix, AZ - 26-unit complex in the amount of $1,162,000 funded under the Fannie Mae DUS® Small Loans product line. The 7-year loan amortizes on a 30-year schedule and carries a note rate of 6.24 percent.The loans were originated by Patrick McGovern, (bottom right photo) Director, in Arbor’s full-service New York, NY lending office.
“All three of these transactions in the Southwest helped the borrowers meet the timelines of their transactions,” said McGovern “Arbor provided them with the maximum leverage that was available in the market.”
CONTACT: Ingrid Principe, Arbor Commercial Mortgage, P: 516.506.4298 F: 516.542.2555. http://www.arbor.com/
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