Marian Gardens in Lynn, MA Gets $8,321,800 Fannie Mae DUS® LoanUNIONDALE, NY, Dec. 17, 2008-- Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $8,321,800 loan under the Fannie Mae DUS® product line to finance the 94-unit complex known as Marian Gardens in Lynn, MA.
The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.42 percent.
The loan was originated by John Kelly, (top right photo) Vice President, in Arbor’s full-service Boston, MA lending office.
“This transaction demonstrated our ability to deliver excellent financing terms in a very uncertain market,” said Kelly. “We look forward to continuing our financing relationship with this strong Boston-based provider of affordable housing.”
Wheatland Club Apartments in Cedar Rapids, IA Obtains $8,475,000 Fannie Mae DUS® Loan
UNIONDALE, NY, Dec. 17, 2008--Arbor Commercial Funding, LLC (“Arbor”), a wholly-ow
ned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $8,475,000 loan under the Fannie Mae DUS® product line to finance the 144-unit complex known as Wheatland Club Apartments (middle right photo) in Cedar Rapids, IA.
The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.61 percent.
The loan was originated by Michael Jehle (middle left photo) , Director, in Arbor’s full-service Bloomfield Hills, MI lending office.
UNIONDALE, NY, Dec. 17, 2008--Arbor Commercial Funding, LLC (“Arbor”), a wholly-ow
ned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $8,475,000 loan under the Fannie Mae DUS® product line to finance the 144-unit complex known as Wheatland Club Apartments (middle right photo) in Cedar Rapids, IA.The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.61 percent.
The loan was originated by Michael Jehle (middle left photo) , Director, in Arbor’s full-service Bloomfield Hills, MI lending office.
“Arbor successfully provided low-cost, fixed-rate Fannie Mae financing for the take–out of the construction loan on a recently completed, and now fully stabilized, multifamily property,” said Jehle.
Meadow Estates in Madrid, IA Receives $1,427,600 Fannie Mae DUS® Loan
UNIONDALE, NY, Dec. 17, 2008--Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $1,427,600 loan under the Fannie Mae DUS® product line to finance the 85-unit complex known as Meadow Estates in Madrid, IA.
The 10-year loan amortizes on a 25-year schedule and carries a note rate of 6.85 percent.
The loan was originated by Peter Margolin, Director, in Arbor’s full-service Deerfield, IL lending office. “Arbor was pleased to be able to meet the borrower’s financing goals on this multifamily property,” said Margolin.
UNIONDALE, NY, Dec. 17, 2008--Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $1,427,600 loan under the Fannie Mae DUS® product line to finance the 85-unit complex known as Meadow Estates in Madrid, IA.The 10-year loan amortizes on a 25-year schedule and carries a note rate of 6.85 percent.
The loan was originated by Peter Margolin, Director, in Arbor’s full-service Deerfield, IL lending office. “Arbor was pleased to be able to meet the borrower’s financing goals on this multifamily property,” said Margolin.
Contacts:
Ingrid Principe or Bonnie Habyan, Arbor Realty Trust, Inc., Earle Ovington Blvd, Suite 900, Tel: (516) 506-4298 or (516) 506-4615333
Arbor Commercial Mortgage, Uniondale, NY 115531-800-ARBOR-10, http://www.arbor.com/
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