Sebring Apartments in Houston, TX Obtains $4,699,500 Fannie Mae DUS® LoanUNIONDALE, NY, Nov. 20, 2008-- Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $4,699,500 loan under the Fannie Mae DUS® product line to finance the 204-unit complex known as Sebring Apartments (top right photo) in Houston, TX.
The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.58 percent. The loan wa
s originated by Matt Norman, (top left photo) Vice President, in Arbor’s full-service Dallas, TX lending office.
s originated by Matt Norman, (top left photo) Vice President, in Arbor’s full-service Dallas, TX lending office. “There were several major hurdles to overcome in closing this loan on terms for the client – including the after-effects of Hurricane Ike, which swept through the area during the underwriting process,” said Norman.
“Arbor, in conjunction with the Broker and the Buyer, were able to maneuver through these hurdles, and meet the client’s ultimate goal of property acquisition.”
Cliffside Terrace in Ithaca, NY Gets $2.136M Fannie Mae DUS® Lo
an
The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.46 percent.
The loan was originated by Stephen York, (middle right photo) Director, in Arbor’s full-service Uniondale, NY lending office.
anUNIONDALE, NY, Nov. 20, 2008-- Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $2,136,000 loan under the Fannie Mae DUS® Small Loans product line to acquire the 36-unit complex known as Cliffside Terrace in Ithaca, NY.
The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.46 percent.The loan was originated by Stephen York, (middle right photo) Director, in Arbor’s full-service Uniondale, NY lending office.
“This was our fourth transaction with this Sponsor, which emphasizes the importance we place on repeat clients,” said York. “Arbor was pleased to deliver competitive terms, which included 80% LTV.”
Americana Apartments in Greenville, TX Receives $2.601M Fannie Mae DUS® Small Loan
UNIONDALE, NY, Nov. 20, 2008-- Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $2,601,900 loan under the Fannie Mae DUS® Small Loans product line to refinance the 120-unit complex known as Americana Apartme
nts in Greenville, TX. (bottom left photo)
UNIONDALE, NY, Nov. 20, 2008-- Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $2,601,900 loan under the Fannie Mae DUS® Small Loans product line to refinance the 120-unit complex known as Americana Apartme
nts in Greenville, TX. (bottom left photo)The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.56 percent.
The loan was originated by Peter Blass, (bottom right photo) Director, in Arbor’s full-service New York, NY lending office.
The loan was originated by Peter Blass, (bottom right photo) Director, in Arbor’s full-service New York, NY lending office.
“The borrower was able to buy out his partners and re-structure the ownership with the proceeds of this transaction,” said Blass.
Contact: Ingrid Principe, Tel: (516) 506-4298, iprincipe@arbor.com
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