Arbor Closes $50M Fannie Mae DUS® Loan on Broadway Square Apartments in Houston, TX

UNIONDALE, NY-- Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $50,100,000 loan under the Fannie Mae DUS® product line to purchase the 2,469-unit complex known as Broadway Square Apartments (above photo) in Houston, Texas. Post Investment Group, LLC acquired the 69-acre property from the estate of Houston developer Harold Farb.

The 5-year loan amortizes on a 30-year schedule and carries a note rate of 5.65 percent. The loan was originated by Alex Kaushansky (photo at right), Director, in Arbor’s full-service New York City lending office.

“Arbor was pleased to have the opportunity to provide unmatched competitive terms within the short timeline given for this transaction, and look forward to continuing our business relationship with this first-time borrower,” said Kaushansky.

“Broadway Square will be a great addition to our current Texas holdings and gives us a strong presence in one of the nation's preeminent real estate markets,” said Jason Post, President of Post Investment Group, LLC. “Arbor’s ability to rapidly turn around this substantial transaction for a new borrower makes all the difference when deciding on using a lender for future deals.”

Contact:
Ingrid Principe
Marketing Specialist
Arbor Commercial Mortgage, LLC 333 Earle Ovington Boulevard, Suite 900
Uniondale, NY 11553 Phone: 516-506-4298
Fax: 516-542-2555
Email: iprincipe@arbor.com
http://www.arbor.com/