UNIONDALE,, NY (May 25, 2010) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $1,930,000 loan under the Fannie Mae DUS® Multifamily Affordable Housing product line for the 64-unit complex known as Lake June Village Apartments in Dallas, TX.
The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.00 percent.
The loan was originated by John Kelly, (top right photo) Vice President, in Arbor’s full-service Boston, MA lending office.”This client has an excellent track record of efficiently running these tough to manage complexes; we look forward to our next deal with this excellent ownership group.”
Lakeside Manor Apartments in East Stroudsburg, PA Obtains $1.5M
Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $1,500,000 loan under the Fannie Mae DUS® Small Loan product line for the 44-unit complex known as Lakeside Manor Apartments in East Stroudsburg, PA.
The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.68 percent.
The loan was originated by Ronen Abergel (bottom right photo) , Director, in Arbor’s full-service New York, NY lending office. “This transaction was a Tier 4 deal which provided the borrower with a low- fixed rate for a 10-year term,” said Abergel.
Contact: Ingrid Principe, Marketing Manager, Arbor Commercial Mortgage, 333 Earle Ovington Blvd., Suite 900, Uniondale, NY 11553, P: 516.506.4298, F: 516.542.2555, http://www.arbor.com/, Follow us on Twitter @ arbor1
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