UNIONDALE, NY--Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $130,587,800 loan under the Fannie Mae DUS® product line to acquire 21 properties totaling 3,128 units known as the Midland/Odessa Portfolio (above photo is one of the properties in the portfolio) in Midland, Odessa, & Longview, TX.The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.67 percent.
The loan was originated by Jay Porterfield, (top right photo) Director, in Arbor’s full-service Plano, Texas lending office. “The broker and borrower came to us after the deal had stalled with another lender,” said Porterfield.
“Arbor was able to mobiliz
e a team to underwrite and close the loan in less than 60 days, a period that included the holiday season and a fire that damaged one of the properties. The deal was very smooth from start to finish, which was a result of the hard work by every member of the Arbor team. The broker and borrower were very pleased with the entire process.”
e a team to underwrite and close the loan in less than 60 days, a period that included the holiday season and a fire that damaged one of the properties. The deal was very smooth from start to finish, which was a result of the hard work by every member of the Arbor team. The broker and borrower were very pleased with the entire process.”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 properti
es.
es.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, (R
EIT), 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 marks of Fannie Mae
CONTACT:
Arbor Commercial Mortgage, LLC
Arbor Realty Trust, Inc.
Arbor also manages Arbor Realty Trust, Inc., a real estate investment trust, (R
EIT), 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 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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