Arbor Closes $2,256,000 Fannie Mae DUS® Loan on Garden Court Apartments in Midland, TX

UNIONDALE, NY, Nov. 19, 2008-- Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $2,256,000 loan under the Fannie Mae DUS® product line to acquire the 74-unit complex known as Garden Court Apartments in Midland, TX. (bottom left photo)

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.68 percent.

The loan was originated by Stephen York, (top right photo) Director, in Arbor’s full-service Uniondale, NY lending office.

“The Sponsors on this transaction purchased Garden Court to add to their expanding Midland-Odessa portfolio,” said York. “Arbor was pleased to deliver competitive terms, which included 80% LTV.”

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