UNIONDALE, NY (Aug. 19, 2008) Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $13,000,000 loan under the Fannie Mae DUS® product line to refinance the 200-unit complex known as The Meadows (top left photo) in Montgomery, AL. The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.78 percent. The loan was originated by Ronen Abergel, (bottom right photo) Director, in Arbor’s full-service New York City, NY lending office.
“We committed to a rate in two weeks by executing an early rate lock agreement with the borrower. In addition, we closed in 29 days with a 5% increase in proceeds over initial scr
eening,” said Abergel. “In light of the current volatility in the market, Arbor’s execution of this transaction exceeded the borrower’s expectations.”
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