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These loans include:
Pinewood Apartments (bottom left photo) - Arlington, TX – 111-unit complex in the amount of $3,280,000. The 10-year loan amortizes on a 30-year schedule and carries a note rate of 4.89 percent.
Waterford Apartments - Irving, TX – 64-unit complex in the amount of $1,680,000. The 10-year loan amortizes on a 30-year schedule and carries a note rate of 4.89 percent.
“On both of these loans, Arbor was able to assist the borrower in converting from short-term, recourse, acquisition debt, to longer term perm debt at very attractive rates,” said Norman.
“The non-recourse component of the Fannie program really sealed the deal for this client.”
Contact: Ingrid Principe, P: 516.506.4298, F: 516.542.2555, iprincipe@arbor.com
http://www.arbor.com/
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