Arbor Closes Loans in Georgia and Texas Totaling Almost $6M

Savannah Apartments in Warner Robbins, GA Gets $3,4M Fannie Mae DUS® Loan

UNIONDALE, NY, Sept. 25, 2008 – Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the funding of a $3,400,000 loan under the Fannie Mae DUS® product line to refinance the 134-unit complex known as Savannah Apartments (top right photo) in Warner Robbins, GA.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.32 percent.

The loan was originated by Patrick McGovern, Director, in Arbor’s full-service New York City lending office. “Arbor was able to provide the borrower cash-out permanent financing on a quality asset in a military-dependent market,” said McGovern.

Arbor Closes $2,263,700 Fannie Mae DUS® MAH Loan on Santa Barbara Apartments in Houston, TX

UNIONDALE, NY, Sept. 25, 2008-– Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the funding of a $2,263,700 loan under the Fannie Mae DUS® MAH product line to refinance the 176-unit complex known as Santa Barbara Apartments (bottom left photo) in Houston, TX.

The 7-year loan amortizes on a 30-year schedule and carries a note rate of 6.72 percent.

The loan was originated by Matt Norman, (middle right photo) Director, in Arbor’s full-service Dallas, TX lending office. “The coordination of the Fannie Mae financing with the existing affordable LURA restrictions made for a challenge, but Arbor’s team was able to assist in the update of all required state parameters,” said Norman. “We were able to close this refinance within a timeline that met the Borrower’s needs.”

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