Tuesday, May 19, 2009

Arbor Closes $4,950,000 Fannie Mae DUS® Loan for Ridgegate Apartments in Dallas, TX

UNIONDALE, NY (May 19, 2009) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $4,950,000 loan under the Fannie Mae DUS® Loan product line for the 270-unit complex known as Ridgegate Apartments in Dallas, TX.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.63 percent.

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

“Arbor provided this property acquisition financing against a fairly tight closing timeline and amid continued volatility in the market,” said Porterfield.

Contact: Ingrid Principe, P: 516.506.4298, F: 516.542.2555, http://www.arbor.com/
Posted by Alex at 1:03 PM
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