UNIONDALE, NY--Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $3,159,200 loan under the Fannie Mae DUS® product line to refinance the 124-unit complex known as Palm Terrace (middle left photo) in Harlingen, TX.The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.93 percent.
The loan was originated by Ronen Abergel, (top right photo) Director, in Arbor’s full-service New York City lending office.
"The Sponsor initially purchased Palm Terrace as an under-performing asset with low occupancy levels and significant deferred maintenance. After successfully repositioning the property in only seven months, we cashed him out so that he could pursue another transaction,” said Abergel. “While many l
enders shy away from cash outs in such a short time period, we recognized the value-added play, which provided a good comfort level for us.”
enders shy away from cash outs in such a short time period, we recognized the value-added play, which provided a good comfort level for us.” 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 properties.
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, (REIT), 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
DUS and 3MaxExpress are registered marks of Fannie Mae
Contact: Ingrid Principe, Tel: (516) 506-4298. Arbor Commercial Mortgage LLC, Arbor Realty Trust, Inc. 333 Earle Ovington Blvd, Suite 900, Uniondale, NY 11553
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