Rouse Road Apartments in Kinston, NC Gets $1,725,000 Fannie Mae DUS® Small LoanUNIONDALE, NY (June 12, 2009) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $1,725,000 loan under the Fannie Mae DUS® Small Loan product line for the 84-unit complex known as Rouse Road Apartments in Kinston, NC.
The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.88 percent.
The loan was originated by John Edwards, (top right photo) Vice President, in Arbor’s full-service Boston, MA lending office.
“We were able to provide attractive financing for a local owner and operator along with flexibility for the potential development of future adjacent parcels,” said Edwards. “In addition, we greatly appreciate the efforts of Carolina Mortgage guiding the client through the process and providing excellent customer service.”
South Hill Commons Apartments in Spokane, WA Receives $1,125,000 Fannie Mae DUS® MAH LoanUNIONDALE, NY (June 12, 2009) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $1,125,000 loan under the Fannie Mae DUS® MAH product line for the 58-unit complex known as South Hill Commons Apartments in Spokane, WA.
The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.84 percent.
The loan was originated by Jon Red, (bottom left photo) Director, in Arbor’s full-service Spokane, WA lending office. “The borrower was seeking long-term fixed-rate financing for this LITHC deal,” said Red. “After allowing the property to stabilize due to a short-term management issue, Arbor delivered on the borrower’s request for funding with a competitive rate.”
Contact: Ingrid Principe, P: 516.506.4298, F: 516.542.2555, http://www.arbor.com/,
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