Thursday, April 23, 2009

Arbor Closes $1,689,400 Fannie Mae DUS® Small Loan for Creekview Apartments in Scottdale, GA

UNIONDALE, NY--Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $1,689,400 loan under the Fannie Mae DUS® Small Loan product line to finance the 42-unit complex known as Creekview Apartments in Scottdale, GA.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.03 percent.

The loan was originated by Jay Porterfield, (top right photo) Vice President, in Arbor’s full-service Plano, TX lending office.

“As the original lender was unable to complete the transaction, Arbor was able to step in and quickly underwrite this loan by working with the existing third-party reports and close the loan,” Porterfield said.

“We were pleased to have the opportunity to provide the borrower with a smooth and expedited solution.”

Contact: Ingrid Principe. P: 516.506.4298, F: 516.542.2555

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