Friday, March 13, 2009

Arbor Closes $11M Fannie Mae DUS® Loan for Aspen Lakes Estates II in Holt, MI

UNIONDALE, NY, Mar. 13, 2009 – Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $11,025,000 loan under the Fannie Mae DUS® product line for the 130-unit complex known as Aspen Lakes Estates II (top left photo) in Holt, MI.

The 79-month loan amortizes on a 30-year schedule and carries a note rate of 6.34 percent.

The loans were originated by Michael Jehle, (bottom right photo) Midwest Regional Director, in Arbor’s full-service Bloomfield Hills, MI lending office.
“Our client recently built Phase II of their three-phase multifamily development in Lansing, Michigan,” said Jehle. “Upon full stabilization, Arbor provided a great interest rate to pay off the client’s existing construction loan.”

Contact: Ingrid Principe, Arbor Commercial Mortgage, 333 Earle Ovington Blvd., Suite 900, Uniondale, NY 11553. P: 516.506.4298. F: 516.542.2555.

SchenkelShultz Designs $29M School Job in Orlando, FL

ORLANDO, FL – SchenkelShultz Architecture, Orlando, one of Florida’s leading green design firms, designed Orange County Public Schools’ innovative new $28.7 million, 196,157-square-foot Memorial Middle School (top right photo) replacement/renovation at 2220 W. 29th Street in Orlando, FL.

The facility, which replaces the original school built in 1962, expanded the current SchenkelShultz-designed Orange County middle school prototype from two to three stories.

The campus was re-designed using the academic house concept with each grade level located on a separate floor to create small learning communities. Balfour Beatty Construction, Orlando, served as construction manager for the project.

Contact: Kenneth H. Cristol, 407-774-2515.

NAIOP Central Florida Elects 2009 Officers and Directors

ORLANDO, FL – The Central Florida chapter of NAIOP, the Commercial Real Estate Development Association, elected its 2009 officers and board of directors:

president, Jeff K. McFadden, (top right photo) SIOR, managing partner, Taurus Southern Investments, LLC, a subsidiary of Boston-based Taurus Investment Holdings, LLC;

president-elect, Mary Hurley, (top left photo) CCIM, RPA, real estate and leasing manager, Pineloch Management Corporation;

vice president, Anthony Fiorillo, (middle right photo) LEED AP, president, ECS-Florida, LLC;

treasurer, Scott Miller (middle left photo) , principal, Primary Capital Advisors, LLC;

secretary and Corporate board representative, Pam Carman, (bottom right photo) FSMPS, director of business development – Florida region, Barton Malow Co.;

immediate past-president and State and Corporate board representative, Terry Delahunty, Esq., LEED AP, partner, Foley & Lardner LLP.

Board members include: Sandy Chace, vice president of leasing, Colonial Properties Trust; Alex Dobrev, Esq., attorney, Lowndes Drosdick Doster Kantor & Reed, PA; David Evans, Esq., attorney, Baker & Hostetler LLP; Ray Gilley, president and CEO, Metro Orlando Economic Development Commission;

Ioana Good, marketing manager, Tilt-Con Corporation; John Guitar, senior director of leasing, Flagler Development Group, Christie Hill, director of business development, Workscapes, Inc.; Doug Irmscher, senior vice president, Duke Realty Corporation; Linda Lay, president, LL Marketing Group;

Greg Morrison, (bottom left photo) CCIM, SIOR, Morrison Commercial Real Estate; Craig Polejes, president, Florida Bank of Commerce; Alan Sheppard, Jr., Esq., shareholder, Greenberg Traurig, LLP; Ann Sonntag, publisher, Orlando Business Journal; Jeff Sweeney, president and managing director, Grubb & Ellis/Commercial Florida;

John Tomlinson, senior vice president, Wells Fargo Bank; Sandy Winkler, director of marketing, HuntonBrady Architects.
The chapter’s State board representatives also include Arnold Gibbs, vice president of business development, Terracon Consultants, Inc.; Rene’ Schneider, site development manager, MACTEC Engineering & Consulting, Inc.; and Alan Sheppard, Jr.

Ex-officio board members are Michael Beale, president, Beall Commercial Real Estate. and Moses Salcido, SIOR, senior development manager, Panattoni Development Co. Shannon Miller serves as the chapter’s executive director. Ken Cristol, president, Cristol Marketing Company, is the chapter’s media consultant and agency of record.

Contact: Kenneth H. Cristol , 407-774-2515