UNIONDALE, NY, Mar. 13, 2009 – Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $11,025,000 loan under the Fannie Mae DUS® product line for the 130-unit complex known as Aspen Lakes Estates II (top left photo) in Holt, MI.The 79-month loan amortizes on a 30-year schedule and carries a note rate of 6.34 percent.
The loans were originated by Michael Jehle, (bottom right photo) Midwest Regional Director, in Arbor’s full-service Bloomfield Hills, MI lending office.
“Our client recently built Phase II of their three-phase multifamily development in Lansing, Michigan,” said Jehle. “Upon full stabilization, Arbor provided a great interest rate to pay off the client’s existing construction loan.”
Contact: Ingrid Principe, Arbor Commercial Mortgage, 333 Earle Ovington Blvd., Suite 900, Uniondale, NY 11553. P: 516.506.4298. F: 516.542.2555. www.arbor.com
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