Monday, July 19, 2010
Uniondale, NY --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 19-unit complex known as 800 Traction Apartments in Los Angeles, CA.
The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.50 percent.
The loan was originated by Anthony Tarter (top right photo) , Director, in Arbor’s full-service Dallas, TX lending office. “We were pleased to refinance the borrower’s existing debt with a lower interest rate while generating excess proceeds,” said Tarter.
Arbor Closes $1,465,000 Fannie Mae DUS® Small Loan for 509 East 12th Street in New York, NY
The 15-year loan amortizes on a 15-year schedule and carries a note rate of 5.88 percent.
The loan was originated by Brian Scharf, (lower left photo) Director, in Arbor’s full-service Uniondale, NY lending office. “The borrowers are the original property developers and were very passionate about this deal,” said Scharf. “Additionally, the location and hands-on ownership made it a great refinance opportunity for Arbor as we continue to grow our small balance program.”
Contact: Ingrid Principe, P: 516.506.4298, F: 516.542.2555, http://www.arbor.com/, Follow us on Twitter @ arbor1
Crystal City Apartment High Rise in Arlington, VA Sold to MRP Realty/Angelo, Gordon & Co. for $33.5M
Christopher L. Becker Joins Grubb & Ellis as Executive Vice President, Director, Investment Services
ATLANTA, GA (July 19, 2010) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that Christopher L. Becker has joined the company as executive vice president, director, Investment Services, and local leader of the company’s Financial Services Asset Management practice.
Additionally, he will have oversight of Atlanta’s team of investment brokerage professionals.
“Chris brings tremendous experience on the ownership side of the real estate business, and his knowledge of the capital markets arena greatly enhances our services both for investors and financial institutions,” said Brett Hunsaker (lower left photo), executive vice president and managing director of Grubb & Ellis’ Atlanta office.
Contact: Erin Mays, Phone: 312.698.6735, Email: email@example.com