UNIONDALE, NY, March 20, 2008-- Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $9,100,000 loan under the Fannie Mae DUS® MBS product line to refinance the 171-unit complex known as Twelve North Apartments in Southfield, MI. The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.55 percent.
The loan was originated by Michael Jehle, (photo at right) Midwest Director, in Arbor’s full-service Bloomfield Hills, MI lending office. “The subject property was acquired by a repeat customer of Arbor,” said Jehle. “After renovation, their goal was to pay off their short-term debt with a long-term, fixed-rate loan. Both of these objectives were achieved for our customer.”
*DUS and 3MaxExpress are registered marks of Fannie Mae.
Contact:
The loan was originated by Michael Jehle, (photo at right) Midwest Director, in Arbor’s full-service Bloomfield Hills, MI lending office. “The subject property was acquired by a repeat customer of Arbor,” said Jehle. “After renovation, their goal was to pay off their short-term debt with a long-term, fixed-rate loan. Both of these objectives were achieved for our customer.”
*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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