Arbor Closes $1.87M Fannie Mae DUS® Small Loan for Purdue Apartments in Baltimore, MD

Uniondale, NY (August 10, 2009) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $1,870,000 loan under the Fannie Mae DUS® Loan product line for the 42-unit property known as the Purdue Apartments (bottom left photo) in Baltimore, MD.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.55 percent.

The loan was originated by Stephen York, (top right photo) Director, in Arbor’s full-service New York, NY lending office.

“The sponsors purchased this property in distress and significantly improved its operations over the course of 15 months,” said York.

“When the property was ready for permanent financing, Arbor was pleased to deliver competitive terms, which included sizable cash out.”

Contact:

Ingrid Principe, Marketing, Arbor Commercial Mortgage,
333 Earle Ovington Blvd., Suite 900, Uniondale, NY 11553
P: 516.506.4298. F: 516.542.2555
http://www.arbor.com/
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