Arbor Closes Three Fannie Mae DUS® Loans Totaling $52.9M

UNIONDALE, NY (Mar. 23, 2009) – Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of three (3) loans totaling $52,900,000 under the Fannie Mae DUS® product line. These loans include:

· Battleground North Apartments, Greensboro, NC (top right photo) – A 288-unit complex in the amount of $16,200,000 funded under the Fannie Mae DUS® product line. The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.24 percent.

Eagle Point Village, Fayetteville, NC (middle left photo) – A 300-unit complex in the amount of $18,700,000 funded under the Fannie Mae DUS® product line. The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.24 percent.

Cedarcrest Village, Lexington, SC (bottom right photo)– A 300-unit complex in the amount of $18,000,000 funded under the Fannie Mae DUS® product line. The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.15 percent.

The loans were originated by John Edwards, (bottom left photo) Vice President, in Arbor’s full-service Boston, MA lending office and financing was arranged by Carolina Mortgage Company in Fayetteville, NC.

“We are extremely pleased with the opportunity to provide financing for the Carroll Companies,” said Edwards.

“In this ever-changing lending environment, we endeavored to provide our client with the greatest level of flexibility, and we sincerely look forward to continuing our business relationship, assuring Carroll Companies our best attention.”

Contact: Ingrid Principe, (516) 506-429 8333, iprincipe@arbor.com, http://www.arbor.com/