Arbor Closes $1.35M Fannie Mae DUS® Loan on Lindy’s Landing Apartments in Austin, TX

UNIONDALE, NY, Sept. 29, 2008 – Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $1,350,000 loan under the Fannie Mae DUS® product line to refinance the 52-unit complex known as Lindy’s Landing Apartments in Austin, TX.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.38 percent.
The loan was originated by Ronen Abergel, Director, in Arbor’s full-service New York, NY lending office.

“The borrower locked in long term fixed-rate financing to complement her retirement plan,” said Abergel. “She was quite pleased with the terms of the loan.”

Contact: Ingrid Principe, Tel: (516) 506-4298,
iprincipe@arbor.com