UNIONDALE, NY (March 24, 2008) -- Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $510,000 loan under the Fannie Mae DUS® MAH product line to provide supplemental financing to the 225-unit complex known as Townhouse Green Cooperative in Clinton Township, MI.
The 18-year loan amortizes on an 18-year schedule and carries a note rate of 6.20 percent.
The loan was originated by Michael Jehle, (photo at right) Director, in Arbor’s full-service Bloomfield Hills, MI lending office. “The cooperative members were interested in completing additional capital improvements to their property, and Arbor was ready to assist them in their financing needs,” said Jehle. “The fact that our Fannie Mae mortgages allow for secondary financing was of great benefit for the residents of this cooperative.”
* DUS and 3MaxExpress are registered marks of Fannie Mae
CONTACT
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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