Arbor Closes $11M Fannie Mae DUS® Loan for Artisan Ridge Apartments in Oklahoma City, OK

Uniondale, NY (May 11, 2009) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $11,000,000 loan under the Fannie Mae DUS® Loan product line to refinance the 312-unit complex known as Artisan Ridge Apartments in Oklahoma City, OK.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.73 percent.

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

“Arbor helped this borrower group refinance, allowing them to stabilize and improve the property,” said Porterfield. ”Arbor looks forward to growing our relationship with the borrower group.”

Contact: Ingrid Principe, P: 516.506.4298, F: 516.542.2555
http://www.arbor.com/