UNIONDALE, NY--Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $3,500,000 loan under the Fannie Mae DUS® product line to refinance the 39-unit complex known as Urbane on Washington in Royal Oak, MI.The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.92 percent.
The loan was originated by Michael Jehle, (top left photo) Midwest Director, in Arbor’s full-service Bloomfield Hills, MI lending office. “The owners of this property had spent a considerable amount of money renovating and re-leasing this building after acquisition,” said Jehle. “Once completed, Arbor was able to take out their short-term floating rate debt with a very attractive long-term fixed rate, which was exactly what they wanted.”
DUS and 3MaxExpress are registered marks of Fannie Mae
Contact
Arbor Commercial Mortgage LLC
Arbor Realty Trust, Inc.
Arbor Commercial Mortgage LLC
Arbor Realty Trust, Inc.
333 Earle Ovington Blvd, Suite 900
Uniondale, NY 11553
Ingrid Principe
Tel: (516) 506-4298
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