UNIONDALE, NY (March 5, 2008) Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $1,300,000 loan using Fannie Mae’s DUS® 3MaxExpress® product line to refinance the 40-unit complex known as Taylor Place Apartments (photo top left) in Chocowinity, NC.The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.42 Percent.
The loan was originated by John Edwards, Director, in Arbor’s full-service Boston, MA lending office. “This transaction reflects a great opportunity to finance a stable multifamily asset in a good rental market,” said Edwards,” “We were pleased with this opportunity.”
Arbor Commercial Funding, LLC, Arbor Commercial Mortgage, LLC, and Arbor Realty Trust, Inc., have extensive experience in mortgage origination, servicing and securitization and have built a reputation for service, quality and flexibility. Arbor’s seasoned management team specializes in debt and equity financing for multifamily, office, retail, hotel and various other commercial real estate properties. The company offers a broad array of financing options including Fannie Mae DUS®, FHA, CMBS, Bridge and Mezzanine products. Currently, Arbor services approximately $3 billion in loans. Arbor is a rated Standard & Poor’s third-party commercial loan and special servicer.
Arbor also manages Arbor Realty Trust, Inc., a real estate investment trust, (REIT), formed to invest in real estate-related bridge and mezzanine loans, preferred equity investments and in limited cases, discounted mortgage notes and other real estate related assets. Arbor is headquartered in Uniondale, NY, and has full-service lending offices throughout the United States.
DUS and 3MaxExpress are registered trademarks of Fannie Mae.
Contacts:
Arbor Commercial Mortgage, LLC
Arbor Realty Trust, Inc.
333 Earle Ovington Blvd,
Suite 900
Uniondale, NY 11553
www.Arbor.com
Ingrid Principe
Tel: (516) 506-4298
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